United Development Funding IV fka UDFI

[Jh5142]

Good points. Another key issue is whether or not the funds should have been considered related parties. I wonder how much you can rely on the last known balance sheet if the accounting was improper, plus some of the transactions were apparently criminally fraudulent. From the trial, it sounds like the funds should have been considered related parties for tax and accounting purposes.

Management did not allow audits to be competed for six years, and chose to go through a criminal trial without disclosing financials... there's a reason for that.