WRAP Bolsters Leadership with Top 1MDB Investigators and FBI Veteran Rob Heuchling to Drive Technology Commercialization for Transnational Crime Solutions

Rhea-AI Summary

Wrap Technologies (NASDAQ: WRAP) has appointed Robert Heuchling as Managing Director, bringing over 15 years of FBI experience to enhance the company's managed services offering. Heuchling, who previously supervised foreign corruption and money laundering investigations in New York City, will work alongside former FBI colleague and current Chief Executive Officer of Managed Services, Bill McMurry.

Together, they led the landmark 1MDB investigation, which recovered over $4.5 billion in stolen assets - the largest recovery in U.S. Department of Justice history. The company plans to leverage their expertise to develop technology solutions for complex financial crimes, cyber threats, and transnational law enforcement challenges.

Heuchling's background includes service as an engineer and communications officer in the U.S. Navy. His accolades include the Assistant Attorney General's Exceptional Service Award, FBI Medal of Excellence, and Naval Commendation Medal.

Positive

• Strategic hire of former FBI investigator strengthens company's expertise in financial crimes and cybersecurity
• Expansion into managed services business line with focus on investigative technologies
• Addition of leadership team with proven track record in major international investigations

Negative

• None.

WRAP Expands Capabilities: Leveraging Investigative Expertise in Financial Crimes, Crypto and Cybersecurity to Commercialize Managed Services Offering

MIAMI, March 27, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announced the appointment of Robert Heuchling as Managing Director of the Company, bringing over 15 years of experience from the Federal Bureau of Investigation (“FBI”) and providing advisory services to the Company’s executive team.

Wrap plans to expand its managed service business lines, with Mr. Heuchling expected to play a key role in commercializing an offering that combines his investigative expertise with his deep familiarity with a wide range of investigative data sets, tools and technologies. Wrap also plans to develop unique technology solutions that integrate advanced investigative capabilities, empowering agencies to address complex financial crimes, cyber threats and transnational law enforcement challenges with greater efficiency and precision.

While at the FBI, Mr. Heuchling supervised a squad based in New York City responsible for foreign corruption, international money laundering and antitrust investigations. In that role, Mr. Heuchling forged relationships with law enforcement agencies across the globe and developed strategies to collaborate with foreign counterparts to solve complex transnational crime cases.

Mr. Heuchling will once again be working with his former FBI supervisor, Bill McMurry, Chief Executive Officer of Managed Services. Together, Mr. McMurry and Mr. Heuchling led the U.S. investigation into 1Malaysia Development Berhad, or 1MDB, a Malaysian sovereign wealth fund from which more than $4.5 billion was stolen through a complex fraud and corruption scheme involving individuals from multiple countries. The investigation resulted in the largest asset recovery in U.S. Department of Justice history and is considered a model for success in international investigations.

Jared Novick, President of Wrap, stated: “The addition of Rob Heuchling, joining his former colleague Bill McMurry at Wrap, provides our global clients and the agencies we support with a unique opportunity to leverage their unparalleled expertise alongside our advanced technologies. We believe their deep investigative experience in financial crimes, cyber threats and transnational law enforcement, combined with Wrap’s cutting-edge solutions, will allow us to deliver unmatched support for the most pressing challenges facing law enforcement and security professionals worldwide. We are thrilled to have them on board as we expand our managed services and drive innovation in public safety.”

Background

Prior to joining the FBI, Mr. Heuchling served as an engineer and communications officer in the United States Navy. He is a graduate of the Medill School of Journalism at Northwestern University and has received numerous accolades from both the FBI and the military. His honors include:

• the Assistant Attorney General’s Exceptional Service Award;
• the Federal Law Enforcement Foundation’s “Investigator of the Year” Award;
• the FBI Medal of Excellence; and
• the Naval Commendation Medal.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap^® solution is a safer way to gain compliance—without pain.

This innovative, patented device deploys light, sound, and a Kevlar^® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap^® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

Wrap Intrensic is an advanced body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

Trademark Information Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders. Cautionary Note on Forward-Looking Statements – Safe Harbor Statement This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations. Investor Relations Contact: (800) 583-2652 ir@wrap.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f9f323f-41be-4b9e-8c86-0cc26de2ab82

This press release was published by a CLEAR® Verified individual.

FAQ

What is the significance of Robert Heuchling joining Wrap Technologies (WRAP)?

Heuchling brings 15+ years of FBI experience to expand WRAP's managed services, particularly in financial crimes and cybersecurity investigations, working alongside former FBI colleague Bill McMurry.

What major investigation did WRAP's new leadership team handle at the FBI?

They led the 1MDB investigation, recovering over $4.5 billion in stolen assets - the largest asset recovery in U.S. Department of Justice history.

How is Wrap Technologies (WRAP) expanding its business in 2025?

WRAP is expanding into managed services, developing technology solutions for financial crimes, cyber threats, and transnational law enforcement challenges.

What are Robert Heuchling's key achievements and background before joining WRAP?

Heuchling served in the FBI and U.S. Navy, receiving the FBI Medal of Excellence, Assistant Attorney General's Exceptional Service Award, and Naval Commendation Medal.