Did You Invest with UDF?
If you are an investor in United Development Funding III or IV, you probably
have a lot of questions. Law enforcement authorities from the FBI executed
a search warrant at the corporate office of UDF III and IV, signaling
a criminal investigation of the firm. The SEC has also been investigating
these companies since April 2014. The allegations currently surrounding
UDF III and IV are incredibly serious, suggesting that UDF may be a billion
dollar house of cards operating with the trademark characteristics of
a Ponzi scheme and allegedly using money raised in new funds to pay investors
in its older funds.
A number of questions have been raised about the legitimacy of the financial
relationships between the affiliated UDF entities and the alleged account
irregularities. But the red flags and potential problems with these investments
did not start this year. They go back several years to when these investments
were formed and sold to investors like you.
My law firm is currently representing investors with claims against their
brokerage firms that sold them UDF. If you invested money in United Development
Funding through the recommendation of your broker, contact the lawyers
at Meyer Wilson to discuss your options. You might be able to recover
your losses against the brokerage firm that sold you the investments.
All of our cases are handled on a contingency fee basis, which means we
only charge a fee if we win your case and we do not charge a retainer
of any kind.