Grapevine, United Development Funding IV— Ponzi Scheme Allegations
UDF, For over a Decade, Has Allegedly Made More than $1 Billion in Secured Loans to Residential Developers; Peiffer Wolf Securities Lawyers Are Working to Take Action, Have Been Retained by UDF Investors, and are Concentrating on Investors who Purchased Shares both Prior to, and After, June 2014
For more than a decade, UDF has allegedly made more than $1 billion in secured loans to residential developers in Texas and elsewhere, according to news reports from Texas currently under review by Peiffer Wolf securities practice attorneys Jason Kane and James Booker.
An FBI raid began early one morning last week on UDF, and agents were seen carrying boxes out of the building, according to news reports from Texas.
The Peiffer Wolf securities lawyers are presently conducting an investigation into UDF, have been retained to prosecute claims on behalf of investors, and are preparing to take action and would like to talk to investors that purchased UDF shares both before and after June, 2014.
In November of 2015, UDF disclosed that Whitley Penn had declined to be reappointed as the company’s independent accounting firm, but said there had been no disagreement on accounting issues, according to news reports from Texas presently being reviewed by attorneys Jason Kane and Joe Peiffer.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemese and are currently investigating UDF’s alleged scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
The Peiffer Wolf securities lawyers are currently investigating UDF, have been retained to prosecute claims on behalf of investors, and are preparing to take action and would like to talk to investors who purchased UDF shares. Investors who believe they lost money as a result of UDF’s alleged Ponzi scheme may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.