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ALERT: UDF “used Land Opportunity Fund as a pawn in the Ponzi scheme”

Posted July 16, 2019

"To do so, UDF used funds from UDF IV, V, and LOF to (1) either 'purchase' portions of non-performing loans from UDF III, which loans defaulted shortly after the purchase, or (2) to make 'loans' to entities that had already borrowed money from UDF III but had trouble paying it back, and have those entities in turn repay the earlier loans to UDF III."  

SEC Complaint

Posted July 9, 2018

The attached complaint was filed by the SEC and alleges from at least January 2011 through December 2015, UDF used money from a newer fund to pay distributions to investors in an older fund, without adequately disclosing the use of funds and the nature and status of loans made to developers.

SEC Charges Real Estate Investment Funds and Executives for Misleading Investors

Posted July 9, 2018

The Securities and Exchange Commission announced charges against two real estate investment funds and four executives in connection with their alleged roles in misleading investors by failing to disclose that it was using money from a newer fund to pay distributions to investors in the older fund.

Final Judgment as to Hollis M. Greenlaw, Benjamin L. Wissink, Theodore F. Etter, and Cara D. Obert

Posted July 9, 2018

Attached is the Final Judgment as to Defendants Hollis M. Greenlaw, Benjamin L. Wissink, Theodore F. Etter, Cara D. Obert, and David A. Hanson.

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]"

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