Former Beneficient executive with Kansas political ties guilty of fraud in $150M scheme

Former boss of Texas company entrusted with a Kansas bank charter is guilty of fraud related to misappropriation of at least $150 million.

By: Tim Carpenter

Outlets: Kansas Reflector

Published: May 7, 2026

Words: 699

Last Updated: 2 months, 3 weeks ago

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TOPEKA — The former top executive of a company granted a banking charter by the Kansas Legislature was found guilty Thursday by a federal jury of orchestrating a scheme to funnel more than $150 million to himself through securities fraud, false claims and fabricated records.

Brad Heppner, who founded Beneficient and convinced Kansas lawmakers five years ago to award the Dallas company a bank charter, had entered a plea of not guilty to securities fraud, …

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