Business

Second Lawsuit Filed Against Matthew McClafferty Claims His Firm is Running Ponzi Scheme

Another lawsuit has been filed in the V.I. District Court against Matthew McClafferty, founder of private equity firm Mac Private Equity Inc. who vehemently defended himself against a similar case reported by the Consortium earlier this month. The new legal action, brought forth by a father-daughter duo, accuses McClafferty of running a Ponzi scheme, further complicating the executive’s legal troubles as he continues to deny all allegations and accuses his accusers of attempting extortion. At the beginning of the month, Consortium journalists reported on a lawsuit filed in district court against McClafferty and his private equity firm, alleging that he failed to repay money loaned to the company after luring funders with promises of high rates of interest on their initial payments.  McClafferty responded by rejecting plaintiff Alex Gibson’s claims, counter-accusing him of potentially being involved in irregular financial dealings. During an interview with the Consortium, Mr. McClaffe...