A Dallas County Grand Jury indicted Clifford Wiley McCrary for theft and securities fraud in connection with the sale of securities issued by HLV Master Fund, LLC. He was arrested on November 17, 2020.
The indictments accuse McCrary of concealing his misuse of investor funds – using money from investors for purposes other than purchasing interests such as unclaimed mineral and royalty properties and other oil and gas properties. According to the indictments, he used their money to pay for personal expenses while misrepresenting his fund earned enough returns to repay victims for their investments.
McCrary is also accused of concealing other information – such as prior indictments for theft and misapplication of fiduciary property. According to the recent charges, he also failed to disclose a default judgment where he was ordered to pay more than $34,000, including attorney’s fees, as well as a final judgment where he was ordered to pay nearly $20,000.
The recent indictment for theft is a third degree felony punishable by up to 10 years in prison. The securities fraud charge is a second degree felony, punishable by up to 20 years in prison.
The case was investigated by the Texas State Securities Board. It is being prosecuted by the Dallas County District Attorney’s Office.