DBJ: Prosecution Rests, Defense Starts Calling Witnesses in UDF Trial

A more than five-year FBI analysis of over 60 bank accounts used by United Development Funding found multiple cases of transfers that the agent conducting the investigation considered suspicious.

UDF would routinely transfer millions of dollars for distributions to investors into an account a day or two before the distributions were paid, said Scott Martinez, a fraud examiner on the FBI’s complex financial crime squad. Martinez reviewed cash flow statements from 2007 through 2015 and testified in the major white-collar trial in federal court Tuesday.