On May 15, 2017, the U.S. District Court for the Eastern District of Texas, Sherman Division entered an order appointing Jennifer R. Ecklund as the Receiver to take control over the assets of Thurman P. Bryant, III (“Bryant”) and his company Bryant United Capital Funding, Inc. (“BUCF”) (“Bryant” together with “BUCF,” the “Bryant Defendants”).
Ms. Ecklund was appointed in connection with the lawsuit the Securities and Exchange Commission (“SEC”) filed on May 15, 2017, which alleges that Frisco, Texas resident Bryant, and his company, BUCF, have raised approximately $22.7 million from approximately 100 investors across the country, approximately $1.4 million of which Bryant has raised since January 2017, in a fraudulent mortgage investment scheme.
Through her investigation, the Receiver discovered additional parties that participated in the investment scheme. Arthur F. Wammel (“Wammel”), Wammel Group Holdings Partnership (“WGHP”), and Wammel Group, LLC (“Wammel Group” together with Wammel and WGHP, the “Wammel Defendants”) received, and subsequently commingled, approximately $16.2 million of invested funds from BUCF.
On July 19, 2017, the Receivership Order was amended to govern the Wammel Defendants. Through the Amended Receivership Order, the Receiver now controls the assets of the Bryant Defendants and the Wammel Defendants (collectively, the “Receivership Estate” or the “BUCF Receivership”).
To view the Amended Receivership Order, click here.
At the same time the Receivership Order and the Amended Receivership Order were entered, the Court also entered temporary restraining orders, asset freezes, and other equitable relief against the Bryant Defendants and the Wammel Defendants. In her work as Receiver, Ms. Ecklund will be focused on identifying and securing receivership assets. Ms. Ecklund respectfully asks for patience and understanding from investors as she continues her work on their behalf.
The Court has tasked Ms. Ecklund with preparing reports that will be filed every quarter. The quarter ending June 30, 2017, has been filed and is available in the link below. Additional information will be added to this website as it becomes available, with the goal of keeping investors and the public informed. Interested persons are encouraged to check back frequently.
Criminal charges have been filed against Thurman P. Bryant, III and Arthur F. Wammel in the Eastern District of Texas. The case number for that proceeding is 4:17-CR-00213.
To view the SEC’s litigation release, click here.
To view the Receiver’s Quarterly Report covering May 15, 2017 – June 30, 2017, click here.
*References to the Receivership, Receivership Assets, and Receivership Estate refer collectively to the Bryant Defendants and the Wammel Defendants.
The Receivership Estate may only be contacted in writing.
The BUCF Receivership
Thompson & Knight LLP
One Arts Plaza
1722 Routh Street, Suite 1500
Dallas, Texas 75201
Written inquiries are being reviewed, but the Receiver does not expect to be able to respond to all individual inquiries. Inquiries are being forwarded to the appropriate person on the Receiver’s team for a response, if necessary. We anticipate that when multiple persons have similar questions, we will address such issues within the FAQ section of this website.
This website will be the primary method of communication with investors and the public. It is revised as new information is obtained; therefore, we strongly encourage interested persons to check back frequently.