The new enterprise intersected with Paul Capital Advisors, or PCA, after Fortune Magazine criticized PCA for charging investors millions per year in management fees despite eliminating staff and closing offices while winding down its portfolio. Texas oil and real estate tycoons the Murchison Brothers, one of whom owns the Dallas Cowboys, re-name the property Glad Oaks, turn it into a ranch, and let the Cowboys practice here. /MediaBox [0 0 612 792] /Annots [] Aurelia and Brad Heppner's shared philanthropic vision and Texas pride have informed HERO's focus on improving Texas habitats, Texas arts and the well-being of Texans. "We're working to democratize the industry starting with a simple, secure, rapid and cost-effective . Defendant Brad K. Heppner resides in Texas. /Producer <6D61634F532056657273696F6E2031302E31352E3720284275696C642031394831363135292051756172747A20504446436F6E746578743B206D6F646966696564207573696E67206954657874AE20372E312E3620A9323030302D323031392069546578742047726F7570204E56202841646D696E697374726174697665204F6666696365206F662074686520556E697465642053746174657320436F757274733B206C6963656E7365642076657273696F6E29> Brad K. Heppner is the current Founder, CEO and Chairman of The Beneficient Company Group. His aspirations now include a hotel, theater, museum, replica flour mill with an observation deck and restaurant, a green space with a chapel, and a new 40,000-square-foot city hall complex. Other names that Brad uses includes Brad K Heppner, Bradley Heppner, Bradley Keith Heppner and Bradley K Heppner. Rep. Jim Kelly, a Republican from Independence and chairman of the House Financial Institutions and Rural Development Committee, tried to ease the concerns of lawmakers who were confused by the legislation. << When Heppner sold Crossroads Group to Lehman Brothers in 2003, five years before the banking titan collapsed, the company managed about $2 billion worth of capital. endobj The Beneficient Company Group Brad Heppner, Chairman and CEO. /Resources 139 0 R The Trust Ben Management Team. >> /ColorSpace << The company also provided financial statements that show the TEFFI has designated a sliver of mostly illiquid assets for rural development in 117 separate trusts managed by John Stahl. In the meantime, GWG Holdings agreed to purchase a majority stake in Beneficient. << As the Chairman of the Board of GWG Inc, the total compensation of Bradley Heppner at GWG Inc is $143,132. /Type /Page 7 0 obj $ + tax These assets are typically holdings in private equity or venture capital, but also could be investments in private real estate, natural resources or, theoretically, expensive art, antiques and wine. The committee then passed the legislation. Heppner frequently mentions how the states lax regulations served as a beacon for credit card companies that now base their operations in Sioux Falls. In the final days of the session, the House and Senate gutted an unrelated bill, replaced it with the contents of the TEFFI bill, and forced a vote amid a torrent of other last-minute legislation that was up for consideration. /Kids [5 0 R 6 0 R 7 0 R 8 0 R] /Type /Page << >> Beneficient declined to answer questions about the litigation. << /Parent 7 0 R In. endobj This page was last edited on 18 July 2020, at 21:51. endobj In that same interview, Hepper said he knew Magee for more than a decade, having worked with her when she was an associate at Thompson & Knight. 30 0 obj Legislators who touted the rural development aspect of the TEFFI never mentioned that Beneficients charitable donations could be designated for Heppners own nonprofit, and they never explained the way transactions would actually make their way to the foundation or the Department of Commerce. Its kind of one of those deals: He who has the money makes the rules, Longbine said. Lawmakers and Gov. /Contents [188 0 R 189 0 R 190 0 R 191 0 R 192 0 R] /Parent 6 0 R /Contents [56 0 R 57 0 R 58 0 R 59 0 R 60 0 R] (No Ratings Yet) One-fifth of that figure goes to the Department of Commerce while the rest goes to a charity of the TEFFIs choosing. /Type /Page endobj 21 0 obj According to the plan, there are three full baths. They should have said, Whoa, time out, stop the presses. But no, that wasnt good enough for Heppner, and Masterson was like, Full speed ahead. And Owens was the same way.. The only phone number that Brad owns is (626) 331-8189 (Verizon California, Inc). Bradley Oaks Ranch includes a wildlife education center that allows visitors to learn about and observe animals and plants found only in East Texas and promotes the importance of conserving and maintaining native wildlife and the environment. The rest of the funding may not be available for years. >> endobj 31 0 obj Hallum of South Carolina buys the property to grow cotton, planting its signature Oak Alley and naming the place The Oaks.. Rose C Heppner of Texas was born c. 1961. steve liesman political affiliation. /Parent 8 0 R Its up to the community to roll up their sleeves and work with our foundation, work with the Beneficent Heartland Foundation, to make it happen, Heppner said in an interview with Kansas Reflector in January. Brad Heppner is founder and CEO of The Beneficient Company Group (Ben), the Dallas-based financial services . /Creator (Word) Heppner said, but the one located near . /Resources 79 0 R 11 0 obj An Asset-Management Merger Ended in Bankruptcy, While Its Architect Got $174 Million Dallas entrepreneur Brad Heppner used money from retail investors to help repay debt he incurred to acquire and . /Type /Page In 2013, Heppner established Beneficient Company Group, LP, known as BEN. Then GWG missed principal and interest payments of $3.25 million and $10.35 million on their L Bond issues on the January 15, 2022, due date. Heppner made his pitch to legislators in a March 22, 2021, hearing before a House committee and again on March 29, 2021, before a Senate committee. /Type /Page Mr. Heppner is also one of the founders of Ben LP and serves as the Chairman of Ben LP's Board of Directors Case 3:22-cv-00410-B Document 1 Filed 02/18/22 Page 5 of 34 PageID 5 endstream Hesston, Kansas, native and Dallas businessman Brad Heppner has plans to bring a grocery store, retail and chapel to his home town along with his "technology-enabled fiduciary financial institution." The maneuver attracted the attention of the SEC, which issued a flurry of subpoenas beginning in October 2020. endobj /Metadata 2 0 R The House passed the bill by a 103-20 vote. << He is a magna cum laude honors graduate. Aurelia and Brad intend to also leave a legacy of support for research, scholarship, education and progress through the HERO programs funding. Aurelia attended Southern Methodist University and graduated from the University of Texas at Dallas, where she was inspired by the visionary generosity of the McDermott and ODonnell families. /C2_0 51 0 R 22 0 obj Rep. Rui Xu, a Democrat from Westwood, said this was a rare chance for Kansas to be the first state in the country to do something. endobj /Parent 5 0 R I got to drive to Newton to get groceries the grocery store, the last one just closed down. Hall clears the uninhabited tract of wilderness, traveling 50+ miles by horse between his farm and his hotel in Crockett, Texas. Colonel Richard A.R. Kansas Reflector is a nonprofit news operation providing in-depth reporting, diverse opinions and daily coverage of state government and politics. >> /Annots [] A pro for throwing a party in a Dallas house that is mid-construction: shirtless men in hard hats. Heppner won support for the legislation by promising to bring a grocery store back to Hesston, and that was just the beginning of his plans. Lawmakers and Gov. /Parent 5 0 R /Contents [128 0 R 129 0 R 130 0 R 131 0 R 132 0 R] Capital Analytics is now owned by Mitsubishi Union Financial Group. >> There is no regulatory authority over it, Heppner said in the interview with Kansas Reflector. % Heppner, in his January interview, said the assets in the trusts could be monetized over four to seven years. /MediaBox [0 0 612 792] << filed Feb. 18 accuses Heppner of unloading $350 million worth of bonds secured by GWG Holdings and sweeping the cash to Beneficient before disclosing the SEC investigation in November 2021. A Dallas firm finds a niche for the rich", "Bald eagle habitat found at Bradley Oaks Ranch", "Anderson County Commissioners OK ordinance for two new heliports", article "Brad K. Heppner" is from Wikipedia, https://en.everybodywiki.com/index.php?title=Brad_K._Heppner&oldid=866447. Brad K Heppner of Dallas County, Texas was born c. 1966. << [1] At 18, Heppner moved to Dallas, Texas, to attend Southern Methodist University, where in four years he earned three bachelors degrees: a Bachelor of Arts in Psychology and General Studies, a Bachelor of Science in Economics and a Bachelor of Business Administration in Finance. And folks, this is not Kansans money. A federal class action lawsuit claims Heppner secured cash for Beneficient by defrauding investors. By then, the Kansas Legislature had already passed the TEFFI legislation. VERIFIED PETITION REQUESTING DEPOSITION TO INVESTIGATE POTENTIAL CLAIM OR SUIT, Cases involving other matters not classified elsewhere, 890, 1890, 1990, 2890, 2899, 2999, 3375, 3890, 3896, 3899, 3999, 4890, 4896, 4999, EX PARTE vs.AURELIA HEPPNER, BRADLEY K. HEPPNER, THE BRADLEY K. HEPPNER FAMILY TRUST, DISMISSAL HEARING; Judicial Officer: GREENBERG, MARK; Hearing Time: 9:00 AM; Comment: dwop, MOTION - HEARING; Judicial Officer: RENTERIA, JUAN; Hearing Time: 10:30 AM; Comment: RULE 202 PETITION JONATHAN SCOTT (ZOOM)-30 MIN 214-999-2901 06/02/22 SENT ZOOM, Financial info for HEPPNER, AURELIA : STATE CREDIT; ; $137.00, Financial info for HEPPNER, AURELIA : CREDIT CARD - TEXFILE (CC); Receipt # CV-2022-01644; HEPPNER, AURELIA $213.00, Financial info for HEPPNER, AURELIA : Transaction Assessment; ; $350.00, Financial: HEPPNER, AURELIA ; Total Financial Assessment $350.00 ; Total Payments and Credits $350.00. << The banking industry in Kansas didnt want Heppner to refer to his venture as a bank or trust, so Heppner settled on technology-enabled fiduciary financial institution, even though there appears to be nothing special about the technology involved. Hesston city manager Gary Emry said he doesnt even know what an alternative asset is, and that he isnt interested in reading about the lawsuits involving Heppner and his companies. /Contents [74 0 R 75 0 R 76 0 R 77 0 R 78 0 R] The Mary Todd Lincoln House was the family home of the . /MediaBox [0 0 612 792] /Contents [176 0 R 177 0 R 178 0 R 179 0 R 180 0 R] The $800 million deal coincided with the unexplained resignation of the entire GWG Holdings board, leaving Heppner in charge of both companies. Lisa Blue Baron. endobj Beyond the magazine. /Resources 193 0 R According to legal documents, Heppner placed PCA holdings in a trust managed by one of his employees. Heppner, in his January interview, said the assets in the trusts could be monetized over four to seven years. for charging investors millions per year in management fees despite eliminating staff and closing offices while winding down its portfolio. >> How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. << Brad Heppner, left, the founder and chief executive officer of Beneficient Company Group, was accused in a federal bankruptcy court motion of engaging in financial misconduct leading to the . Editor's Note: This is the second of a multi-part series from a story by The Kansas Reflector HESSTON Brad Heppner's vision to transform his hometown's main street into a thriving commercial hub is so breathtaking, local and state officials would rather not question the operations of a uniquely regulated trust company he describes as a pawn shop for rich people. Instead, Mr. Heppner and other business entities he is involved with collected at least $174 million in cash, loan repayments and other benefits as a result of the takeover of GWG that he engineered before the company collapsed in April, leaving thousands of individual investors owed $1.3 billion, a Wall Street Journal review found. brad heppner dallas house. /Type /Pages And I asked her right there on the call, I said, Mom, can you figure out and get me some meetings set up with legislators to talk about an idea I have? And the next step was I actually flew up to Hesston the next day.. /Type /Page /CS0 [/ICCBased 48 0 R] South Dakota looked like a promising alternative. Aurelia and Brad Heppners shared philanthropic vision and Texas pride have informed HEROs focus on improving Texas habitats, Texas arts and the well-being of Texans. A TEFFI must designate 2.5% of transactions for charitable contributions. Do it right. << Herndons office authorized the TEFFIs operations on Dec. 31, complying with a directive from the oversight committee to take action before the end of the calendar year. endobj >> /Annots [] << /Annots [] VERSAILLES DALLAS, INC. vs. JORDAN ZITOUN, et al, DEAN WEINREICH vs. JONATHAN C. SCOTT, INDIVIDUALLY, JONATHAN C. SCOTT, P.C., A PROFESSIONAL CORPORATION. stream 9 0 obj . 17 0 obj /Parent 6 0 R 33 0 obj DALLAS, December 28, 2022--The Beneficient Company Group, L.P. ("Beneficient" or "the Company"), a technology-enabled platform providing liquidity, data, custody and trust services to holders of . Dallas Auto Show 2022 Discount Tickets. The grand ol' theory of shrinking with age didn't apply to him. Heppner presented legislation that would allow him to operate a trust company that only deals within a volatile market providing immediate cash as a loan for high-value assets that arent traded publicly and cant be easily sold. /Type /Page [3] The Crossroads Group is now a part of Neuberger Berman. Dallas, TX 75202. /MediaBox [0 0 612 792] You may change your billing preferences at any time in the Customer Center or call Owned by the Heppner family, Bradley Oaks Ranch is the campus for field work, research applications and gatherings of HERO students, professors and others devoted to improving life in Texas. That buyer would be GWG Holdings, a Minneapolis-based company that bought life insurance policies from senior citizens. /Parent 5 0 R a Dec. 7 meeting of the oversight committee. /Length 1997 Brad was unfortunately in New York City, but was in attendance virtually as his assistant walked around a laptop where he was Zooming in to greet guests. 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