5th Circ. Says REIT Execs Guilty In Securities Fraud

By Katryna Perera (August 1, 2023, 7:27 PM EDT) -- The Fifth Circuit has ruled that executives of real estate investment trust United Development Funding were rightfully convicted of several counts of wire and securities fraud related to a Ponzi scheme they ran, nixing their argument that transferring money out of the fund to another fund's investors was just "routine business transactions."...

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