Land Development Co. A $350M Ponzi Scheme, Investors Say

By John Petrick (February 4, 2019, 9:45 PM EST) -- Investors in the now-failed third in a series of real estate lending vehicles, United Development Funding III, filed a proposed class action Monday in Texas federal court alleging the funds' purported success through the years was a lie based on a $350 million Ponzi scheme....

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