Business

CEO of MacPrivate Equity Speaks Out Against Fraud Accusations

President and CEO of MacPrivate Equity Matthew McCafferty has responded to news that the company is being sued by a disgruntled lender by emphatically denying all claims that business between the two parties was handled in a manner that was not above board. In fact, it was due to suspicious behavior by Alex Gibson, who filed the lawsuit on Monday, that a dispute over payment arose in the first place, McCafferty claimed. Mr. Gibson is suing Mr. McCafferty and his companies, Mac Private Equity and MPE Clearing & Holdings, over claims that they operated as a facade for a Ponzi scheme, leading to significant financial losses for investors like himself.  Consortium journalists reached out to Mr. McCafferty, who expressed surprise at news of the lawsuit, saying that he had not yet been officially served with the claim that was filed in district court on Monday. Nevertheless, he dismissed the claims of breach of contract, fraudulent misrepresentation and others outright, saying that after r...