Free Speech, Due Process and Trial by Jury
After a week-long trial, the fate of United Development Funding CEO Hollis Greenlaw and three other top executives at the North Texas-based residential real estate development lending firm is in the hands of the jury.
The Dallas Business Journal is providing continuous coverage of the trial. The defense put on its first witness yesterday and may call one of DFW's largest developers of residential and mixed-use communities to the stand Wednesday.
The Dallas Business Journal’s Bill Hethcock reviews what’s happened so far (and been left unsaid) in the criminal securities fraud trial of four United Development Funding executives, including a certain phrase that starts with a “P” and a Twitter feud between one of the defense lawyers and a certain hedge fund manager. Jurors return Tuesday for Week 2.
On Day 3 of the United Development Funding trial, prosecutors called a former board member to the stand who said shifting money from one investment fund to another is improper. The Dallas Business Journal reviews that testimony the testimony of two other witnesses who took the stand Friday.
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.
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.
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.
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.
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