UDF Admits To Fraud Charges In SEC Settlement

The Securities & Exchange Commission earlier this week filed charges against Grapevine, TX-based United Development Funding (UDF) and five of its senior executives. The move culminates a ruckus period that featured an FBI raid on the building, claims of threats against a journalist amid a crusading hedge fund manager and SEC charges of misleading investors.  Five of the senior executives named in the civil settlement have agreed to collectively pay $8.5 million in penalties and disgorgement and an FBI investigation appears ongoing, according to court records reviewed by ValueWalk. UDF’s stock price, which had been sharply battered down prior to…