DBJ: Latest SEC Proposal Could Be Game-Changer for Private Funds
The proposal would turn compliance for firms on its head in the name of protecting investors and companies that take private capital.
DBJ: 30K Investors, Banks Bamboozled by UDF in Ponzi-like Scheme, Prosecutors Say
Roughly 30,000 victims nationwide lost money or were misled by the North Texas REIT and the firm’s executives, who were convicted last month of misusing proceeds from investors and financial institutions in a Ponzi-like scheme involving loans to residential housing developers across Texas, prosecutors said.
The Texas Energy Grid Crisis Didn’t Have to Happen: Will There Be a Repeat?
The Texas deep freeze last year dramatically and graphically illustrates the consequences of the government's failure to address the state's energy needs. But the same is happening in other states and across the globe. The much-needed changes resulting from this past winter won't even be implemented in time for this current winter and, once again, Texans are at the mercy of Mother Nature. This article examines factors that contributed to the Texas electrical grid failure in February 2021 and recommends ways to prepare infrastructure for extreme weather in the era of climate change.
Houston Energy Exec Accused of Fraudulent Kickback Scheme
Federal prosecutors in Houston and the Commodity Futures Trading Commission have charged former Pacific Summit Energy President Matthew Clark with operating an illegal scheme involving insider trading of natural gas futures and financial kickbacks. A federal grand jury Thursday indicted Clark on multiple counts of wire fraud, insider trading and making illegal commodities transactions. If convicted, he faces 130 years in federal prison.
DBJ: Lawyers Fear Proposed SEC Regulations Could Trigger Noncompliance for Some PE Firms, Hedge Funds
Lawyers weighed in Wednesday on the new SEC proposal which would increase the frequency and amount of information some firms and hedge funds are required to disclose.
DBJ: UDF Execs to Remain Free Pending Sentencing on Securities Fraud Convictions
The CEO and three other executives of Grapevine-based United Development Funding convicted of securities fraud, wire fraud and conspiracy will be free while they await sentencing in May, a federal magistrate ruled Monday. The Dallas Business Journal is providing continuous coverage.
DBJ Reporter’s Notebook: UDF Execs to Return to Court After Convictions
Four top executives of a Grapevine-based residential development lender United Development Funding return to federal court today in Fort Worth after conviction for securities fraud. The Dallas Business Journal is providing continuous coverage.
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.
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.