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Virgin Islands published sensationalized and unfounded allegations stemming from two lawsuits filed against the company.
Kellerhals Ferguson Kroblin PLLC – a powerful law firm with offices in New York and the Virgin Islands – engaged The Waterfront Group to perform an internal investigation and forensic audit on behalf of their client, Mac Private Equity, Inc., in April 2024.
On May 22, 2024, The Waterfront Group released its audit findings, clearing Mac Private Equity – a small capitalization private equity fund from Delaware that operates a licensed subsidiary in the U.S. Virgin Islands – of any wrongdoing.
“It is the professional opinion of The Waterfront Group that any allegations of financial mismanagement or wrongdoing on behalf of Mac Private Equity, its subsidiaries or its principals are wholly without merit” the report states.
Another section of the report reads, “The Waterfront Group LLC can state with a reasonable degree of professional certainty that under no definition is Mac Private Equity engaged in a “Ponzi scheme” or “pyramid scheme”.
The report cites $59.8 million in assets with $3.1 million in liabilities on Mac Private Equity’s balance sheet, with lucrative investments in blockchain technologies, real estate, hotels and restaurants.
“We are pleased that the report has affirmed what we already know to be true” says Mac McClafferty, Chief Investment Officer of Mac Private Equity. “There is evidence to suggest that the lawsuits that were filed, and the articles that ran by a certain online news publication thereafter, were coordinated in an effort to besmirch and defame both the company and myself for illegitimate and corrupt purposes.”
McClafferty says that the company is reviewing its legal options and may pursue legal action for damages incurred as a result of the frivolous lawsuits and the malicious reporting that surrounded them.
“The people of the Virgin Islands have the right to know that the news they’re consuming is legitimate, and not motivated by private agendas or for political purposes” says McClafferty.
Contact Info:
Name: Annalisa Hodge
Email: Send Email
Organization: Mac Private Equity Inc
Phone: 1-800-480-3401
Website: https://macprivateequity.com/
Release ID: 89130941
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