Recovery options for investors following FBI Raid of United Development Funding (UDF) offices in Dallas, Texas
/The Furgison Law Group securities lawyers are also investigating a number of brokerage firms’ sales practices involving recommendations for investors to invest in United Development Funding I, United Development Funding III, United Development Funding IV, United Development Funding V, or other investment programs sponsored by UDF. According to offering materials, all UDF REITs were sold by brokerage firms. Those firms include, but are not limited to IMS Securities Inc., Berthel Fisher & Co., Financial Services Inc., Centaurus Financial Inc., VSR Financial Services, Inc., Geneos Wealth Management, and Realty Capital Securities, LLC. Brokerage firms, like those listed above, reportedly sold over $1 billion of UDF REITs to individual investors.
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