MacPrivate Equity CEO Refutes Allegations Amid Legal Battle

Matthew McCafferty, President and CEO of MacPrivate Equity, has vehemently denied allegations following a lawsuit filed by a lender, asserting that all transactions between the company and the plaintiff were conducted transparently and ethically. The dispute traces back to what McCafferty describes as suspicious requests by Alex Gibson, the lender in question, which led to disagreements over payments.

Gibson’s legal action accuses McCafferty and his firms, including Mac Private Equity and MPE Clearing & Holdings, of masquerading operations that resulted in considerable financial detriment to investors, Gibson among them. These allegations have been labeled as baseless by McCafferty, who expressed astonishment upon learning of the lawsuit, noting that he had not yet been served with the official documents.

McCafferty critiques the lawsuit for omitting critical information and misrepresenting the chronological order of events leading to the financial disagreement. At the heart of the controversy is the reason behind the dissolution of their business relationship, with conflicting accounts from both parties. McCafferty claims the decision to end the relationship was his, citing discomfort in continuing business with Gibson, especially after an unusual request involving a significant cash transaction raised anti-money laundering (AML) concerns.

McCafferty elaborated on the complexities surrounding the compliance issues, pointing to Gibson’s failure to adhere to AML procedures as a critical juncture in their professional relationship. The situation escalated when Gibson, after a period of silence, through his attorney demanded a payment significantly exceeding the original sum, which McCafferty rejected as unreasonable.

In defense against the Ponzi scheme accusation, McCafferty highlighted his firms’ substantial assets, including real estate investments and ownership in a well-known local establishment, St. Thomas Social. This, he argues, demonstrates the companies’ financial stability and capacity to fulfill their obligations.

The dispute is set to move to court, where Gibson will be tasked with proving his claims, including the legality of the initial loan funds. McCafferty, firm in his stance, is prepared to countersue to safeguard the reputation of his businesses and personal integrity, signaling a forthcoming legal showdown that promises to scrutinize the veracity of the allegations extensively.