The United Development Funding III, L.P. and United Development Funding IV, L.P. (collectively “UDF”) has agreed to settle with the SEC over allegations that the company and its funds have been operating for several years like a Ponzi-scheme.
The United Development Funding III, L.P. and United Development Funding IV, L.P. (collectively “UDF”) has agreed to settle with the SEC over allegations that the company and its funds have been operating for several years like a Ponzi-scheme.
This past week, Texas Hedge fund manager Kyle Bass has stepped up his conflict with United Development Funding IV (UDF), a public nontraded real estate investment trust also based within Texas. Bass, who runs Hayman Capital, recently disclosed that he is an anonymous short seller going after UDF.