Prosecutors attempting to send four executives of a North Texas-based real estate investment trust to prison called witnesses Thursday to build their case that transfers between the REIT’s funds are illegal. The Dallas Business Journal is providing continuous coverage of the trial.
DBJ: UDF Trial Kicks Off
A “snag” in North Texas-based residential lender United Development Funding’s business model caused the firm to careen off the path of profitability, and the company’s executives then launched an illegal scheme to try to recover and to enrich themselves, a federal prosecutor told jurors in opening statements of a white-collar trial in Fort Worth. The Dallas Business Journal is providing continuous coverage of the trial.
Longtime ERCOT Lawyer Joins Austin Office of Baker Botts
Juliana Morehead Sersen, who spent 12 years with the entity that manages the Texas electric grid, says she’s still sorting out what role, if any, she will play in Baker Bott’s cases stemming from last February’s deadly winter storm.
DBJ: UDF Securities Fraud Trial Begins Today
Six years after the FBI stormed the offices of United Development Funding in Grapevine, CEO Hollis Greenlaw and three other controlling executives of the firm are in trial this morning on fraud and conspiracy charges in federal court in Fort Worth. The allegations, which the executives deny, involve dollar figures high enough to rank it among the nation’s largest financial fraud cases. The Dallas Business Journal is there for the trial and will have continuous coverage.
SEC Asst. Director Jumps to Holland & Knight
Former SEC Assistant Regional Director for Enforcement Scott Mascianica, who was involved in cases against Nikola Motor Corporation, Akazoo and Breitling Energy, said he moved his practice to Holland & Knight because last year’s merger with Thompson & Knight gives its partners a larger national platform to represent clients and because the firm is growing its white-collar defense and international investigations practice.
Continued Uncertainty About Eviction Regulations in Texas
While there has been a focus on how eviction protections impact residential tenants, commercial landlords who own multifamily or mixed-use projects must be informed of current restrictions and procedures to understand the implications of evicting residential tenants. This article summarizes our path to this point, the current situation and the future for evictions in Texas.
Paul Coggins’ Client, Alone, Acquitted in $28M Medicare Fraud
A federal jury in Texarkana found Dr. Ray W. Ng, a podiatrist with clinics in Allen and Terrell, not guilty of taking part in a multi-state bribery and kickback scam involving referrals to genetic-testing labs.
Dallas Lawyer Marc Stanley Takes Oath as Argentina Ambassador
Marc Stanley, a prominent Dallas securities trial lawyer who has handled thousands of civil cases and taken more than 50 disputes to trial, was sworn in Tuesday by U.S. District Judge Karen Gren Scholer as the new ambassador to the Argentine Republic.
SEC’s Recent Enforcement Actions a Sign of Increased Scrutiny of SPACs
Calls for heightened scrutiny of an emerging alternative to IPOs for going public include recent calls for scrutiny of a SPAC deal involving a media company controlled by former President Trump and a high profile action from the SEC’s Fort Worth Regional Office.
Feds Fine UTSW $4.5 Million for ‘Shocking Disregard’ of Proper Opioid Controls
The penalty, the second largest of its kind in U.S. history, ends a federal investigation that began after two nurses at Clements University Hospital were found dead from opioid overdoses.