Legal

Bankruptcy Trustee Alleges Brett McClafferty Used Company Funds for Personal Expenses, Senate Bid, and Image Repair

The first status report filed by the Chapter 7 trustee overseeing MAC Private Equity during its bankruptcy proceedings paints a shocking picture of company president Brett Matthew McClafferty’s casual relationship with corporate financial ethics and tax law. Similarly, a petition by Mr. McClafferty’s personal bankruptcy trustee is also asking pointed questions about the reasons behind the troubling lack of transparency being demonstrated. MAC Private Equity filed a voluntary Chapter 7 petition in the Delaware bankruptcy court in  March 2025, shortly after a raft of lawsuits totaling over $500,000 were filed against the company and its principal. Mr. McClafferty himself followed with a personal Chapter 13 bankruptcy filing in the same court last November. The bankruptcy proceedings effectively placed a temporary halt on the civil complaints against the company, and several of the lawsuits  have now been included into the main chapter 7 matter.  Last month, George Miller, the trustee a...