United Development Funding IV fka UDFI

[Jh5142]

Those are good point, Phaedrus.

If those allegations are provable, if I were a UDF III shareholder, I would not be happy that the SEC allowed management to remain in place and for 4 or 5 people to split an $8 million fine when those actions led to a $100 million loss for shareholders.

UDF III lost a third of its value on Buffington. I wonder if the SEC's allegations were going to be hard to prove in court.

Neither of the items you listed are negatives for UDF IV.

There are some things in the sec complaint that aren't good. But the SEC has been investigating them since 2014. And in 2016 the FBI raided the company and walked out with a lot of documents.

There's not a lot they uncovered after having 4 years and an FBI raid.

If you review each Bass presentation, there are dozens of allegations of fraud in each of them. Apparently, none of that was accurate.