ST. THOMAS — Brett “Mac” McClafferty, managing partner of St. Thomas Social, was arrested Saturday by the Virgin Islands Police Department Economic Crime Unit in connection with an $888,500 fraud investigation.
Authorities allege that between January and June 2024, McClafferty deposited counterfeit and fictitious checks — including instruments drawn on entities in the British Virgin Islands — and issued bank drafts that were returned for insufficient funds or stop-payment requests. Police said funds were withdrawn and wired to third parties before the instruments were returned unpaid.
An arrest warrant was issued on Dec. 30, 2025, with bail set at $150,000. McClafferty was taken into custody on Feb. 21 and, unable to post bail, was remanded to the Bureau of Corrections pending his advice of rights hearing, scheduled for Monday morning.
He faces multiple charges, including grand larceny, passing or possession of forged bills, obtaining money by false pretenses, making and passing fictitious bills and notes, and delivering worthless checks. Banco Popular de Puerto Rico, which initiated the complaint in June 2024, reported losses exceeding $80,000, though authorities allege 12 fraudulent transactions totaling approximately $888,500 flowed through McClafferty’s business and personal accounts.
In a statement posted to Facebook, Sunil Sharma, a partner at St. Thomas Social, said the case relates to a 2024 deposit made by the restaurant’s former general manager for a private event, which McClafferty had no involvement with. Sharma called it “absurd” to hold the business or its owners responsible and expressed confidence in McClafferty’s release.
St. Croix attorney Kye Walker clarified she is not representing McClafferty and cautioned against issuing press statements following an arrest.
McClafferty, principal of Mac Private Equity and MPE Clearings and Holdings, has faced other litigation, including landlord-tenant disputes and bankruptcy filings, which he has characterized as business disputes. The case will now proceed through the court system, where McClafferty will have the opportunity to respond through counsel.
