GWG Holdings Bondholders Allege RICO Conspiracy 

A group of GWG Holdings bondholders are alleging the parties that have been implicated in the secret romance scandal involving a former Houston bankruptcy judge and a bankruptcy lawyer were actually players in a racketeering conspiracy, “work[ing] together to prey upon distressed entities for their own financial gain.”

The lawsuit, filed Thursday, names as defendants David Jones, Elizabeth Freeman, The Law Office of Liz Freeman, Jackson Walker and Porter Hedges. Once the previously undisclosed live-in relationship between Jones and former Jackson Walker bankruptcy partner Freeman was publicly reported in October 2023, Jones left the bench. Freeman left Jackson Walker to launch her own firm in December 2022. Jackson Walker has become the target of actions by the U.S. trustee to claw back millions in fees awarded to the firm in 33 bankruptcy proceedings where Jones served as judge or mediator.