Hayman’s case study presentation on how UDF management has not recognized realized losses in a public UDF affiliate and the implications for UDF IV.
Hayman’s Case Study presentation demonstrates how loans to UDF’s largest borrower regularly do not generate any cash (principle or interest), are extended without fees and accrue larger and larger balances for years.
Download and read Hayman's multi-page overview of UDF's scheme.
The attached analysis shows that the CEO of UDF, Hollis Greenlaw, and the CEO of UDF’s largest borrower, Mehrdad Moayedi, co-own a private jet.
Hayman's official UDF presentation lays out the full anatomy of this House of Cards.
Hayman's case study presentation breaks down how the UDF scheme works.