Beneficient Statement About Brad Heppner Indictment

Core Viewpoint - Beneficient has issued a statement regarding the indictment of its former Chairman and CEO, Brad Heppner, by the United States Attorney for the Southern District of New York, following evidence of fraud against the company and others [1][2]. Company Overview - Beneficient is a technology-enabled platform that provides exit opportunities and primary capital solutions, along with trust and custody services for holders of alternative assets through its online platform, AltAccess [1]. - The company aims to democratize the global alternative asset investment market by offering solutions to mid-to-high net worth individuals, small-to-midsized institutions, and General Partners seeking exit options and value-added services [3]. Recent Developments - The company terminated its relationship with Mr. Heppner earlier this year upon discovering credible evidence of his fraudulent activities [2]. - Beneficient is actively pursuing potential claims against Mr. Heppner and associated entities on behalf of its shareholders and is cooperating with the ongoing government investigation [2]. - The company views these developments as a significant step towards enhancing its foundation for growth, transparency, and shareholder value creation [2].