DBJ: Gov’t Granted More Time to Track Down Victims of Convicted Felons in Massive UDF Fraud Case

Posted April 29, 2022

Click here to learn how to file for restitution.  

“The federal Crime Victims Rights Act requires the U.S. Department of Justice and other federal departments and agencies involved in investigating or prosecuting crimes to “make their best efforts” to see that crime victims know of and can exercise their rights.”

Full article from the Dallas Business Journal is available here.  

Prosecutors Seek ~30,000 Investors Defrauded by UDF – Victims May Be Entitled To Restitution

Posted February 23, 2022

"In order to be kept apprised of developments in the case, victims should visit justice.gov/usao-ndtx/united-states-v-greenlaw-et-al-udf for up-to-date information on sentencing hearings (currently scheduled for May 20, 2022 at 9 a.m. in Fort Worth, Texas before U.S. District Judge Reed O’Connor) and for instructions on how to submit victim impact statements, which may be emailed to [email protected]"

DBJ: ~30,000 Defrauded Investors affected by UDF’s Ponzi-like scheme could receive some recovery

Posted February 11, 2022

“Roughly 30,000 victims nationwide lost money or were misled by North Texas-based United Development Funding and the firm’s executives, who were convicted last month of misusing proceeds from investors and financial institutions in a Ponzi-like scheme involving loans to residential housing developers across Texas.

Four top executives of Grapevine-based UDF, including CEO Hollis Greenlaw, were found guilty on Jan. 21 of 10 counts apiece, including securities fraud, wire fraud affecting a financial institution and conspiracy to commit securities fraud."

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