Barred UDF founder had wife broker $42MM in UDF securities, received $2.8M of UDF investor money

Posted October 15, 2020

FINRA FINDS THAT UDF FOUNDER, WHILE BARRED FROM SECURITIES INDUSTRY, USED WIFE TO SELL $42 MILLION IN UDF SECURITIES AND OBTAIN $2.87 MILLION IN INVESTOR MONEY AS COMMISSIONS

NexPoint Advisors, LP sues UDF IV and Mike Wilson. . . Defamation, Business Disparagement, etc

Posted October 13, 2020

“As a result of the Trust’s failure to file required public filings, on July 8, 2020, NALP, as advisor to NexPoint Strategic Opportunities Fund and other advised funds and accounts, sent a letter to the Trust’s Board of Trustees (the ‘Board’) expressing concerns about the management and oversight of the Trust, and seeking to ensure the Board is held accountable to shareholders and acts in a manner consistent with its obligations to shareholders.” 

“In addition to the press releases, Mike Wilson, an employee of the Trust, made phone calls to individual clients and potential client advisers of NALP making the same false statements about NALP described above. Mr. Wilson initiated these communications with the specific intent to harm NALP’s current and prospective business relationships.”

“The Response Letter is even more troubling in light of the United States Securities and Exchange Commission’s (the ‘SEC’) recent deregistration order, as it not only highlights the lack of accountability at the Trust, but also adds to the ‘substantial reason to doubt that [the Trust] will return to compliance.’"

". . . NexPoint is in fact a long-term significant shareholder of the Trust. Based on the limited public information available, we believe NexPoint is in actuality the largest beneficial holder of the Trust shares. . . As one of the largest shareholders, NexPoint’s interests are clearly aligned with the Trust’s shareholder base. . .”

Alert: DOJ & US Attorney Filings Regarding Ongoing, Very Active, Criminal Investigation of UDF

Posted September 22, 2020

"[UDF is] using this ‘Bivens action’ to yet again interfere with legitimate law enforcement activity.  In furtherance of their efforts, [UDF] asks the Court to unseal a redacted complaint and publicize their version of the history of a very active ongoing criminal investigation in the NDTX including details of non-public aspects of the investigation."  

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