United Development Funding IV Experiences Events of Default; Suspends Distributions to Shareholders

United Development Funding IV (“UDF IV”), a Texas-based real estate investment trust announced in a May 23, 2016 filing with the Securities and Exchange Commission that it had experienced “certain events of default” and entered into a forbearance agreement with one of its lenders regarding a $35 million loan that originated on July 2, 2014…. Read more »

James A. Torchia— Ongoing Investment Fraud Involving Promissory Notes and Life Settlement Contracts, Ponzi Scheme

James A. Torchia Allegedly Engaged in Ongoing Investment Fraud Involving Promissory Notes and Life Settlement Contracts James A. Torchia allegedly engaged in outgoing investment fraud involving promissory notes and life settlement contracts, according to recent SEC Documents currently under review by attorneys Joe Peiffer and Alan Rosca. On November 10, 2015, the SEC filed an… Read more »

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 Rosca 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… Read more »

United Development Funding IV — Ponzi Scheme Allegations

United Development Funding, Grapevine-based Real Estate Investment Firm, Raided by FBI, Accused of Running $1-Billion “Ponzi-like scheme” FBI Agents were recently seen carrying boxes of evidence out of the Texas offices of Grapevine-based real estate investment firm United Development Funding (UDF), following allegations against the company by Dallas hedge fund manager Kyle Bass currently under review… Read more »

United Development Funding IV—Ponzi Scheme Allegations Report

United Development Funding IV, a Texas REIT, Has Allegedly Operated for Years as a Ponzi Scheme, According to Blogger United Development Funding IV, a Texas REIT, has allegedly operated for years as a Ponzi scheme, according to a Harvest Exchange post currently under review by attorneys Joe Peiffer and Alan Rosca. UDF IV was a nontraded… Read more »

Phil Donnahue Williamson—Investment Fraud, Ponzi Scheme

Phil Donnahue Williamson Allegedly Siphoned Money from His Investment Fund and Defrauded Investors, Including Several Retired Teacher and Law Enforcement Officers Phil Donnahue Williamson allegedly siphoned money from his investment fund and defrauded investors, including several retired local teachers and law enforcement officers, according to an SEC Complaint currently under review by attorneys Joe Peiffer… Read more »

William M. Apostelos and Connie M. Apostelos—Ponzi Scheme

William M. Apostelos and Connie M. Apostelos Allegedly Orchestrated a $70 Million Ponzi William M. Apostelos, 54, and Connie M. Apostelos, 50, both formerly of Springboro, Ohio, allegedly fraudulently persuaded hundreds of individuals from all over the U.S. to invest $70 million collectively, according to documents from the U.S. Attorney’s Office in the Southern District… Read more »

Sunil Sharma, San Diego-Area Day-Trader, Sentenced on Fraud Scheme Charges

Sunil Sharma Sentenced in Multi-Million Dollar Investment Scheme Sunil Sharma, of Carlsbad, California, was sentenced in federal court on September 14, 2015 to 33 months in custody. Sunil Sharma admitted to running a multi-million dollar investment scheme which defrauded local investors by falsely claiming that their funds were safely placed in conservative investments. However, Sharma… Read more »

Robert A. Helms and Janniece S. Kaelin—Ponzi Scheme

Robert A. Helms and Janniece S. Kaelin Allegedly Operated an $18 Million Oil-and-Gas Ponzi Scheme in Texas Robert A. Helms and Janniece S. Kaelin allegedly ran an Austin-based oil-and-gas Ponzi scheme, according to Documents from the SEC currently under review by attorneys Alan Rosca and Joe Peiffer. Helms and Kaelin, since 2011, purportedly targeted 80 investors in an alleged… Read more »

Kelly Schnorenberg, Craig Kahler and KJS Marketing Inc.—Ponzi Scheme

Kelly Schnorenberg, his company, KJS Marketing Inc., and Craig Kahler Allegedly Ran an $11 Million Ponzi Scheme in Colorado Kelly Schnorenberg, his company, KJS Marketing Inc., and Craig Kahler of Casper, Wyoming allegedly ran a $11 million Ponzi scheme, purportedly promising their money was funding “risk free” insurance and financial companies, according to statements from… Read more »