United States v. Greenlaw et al. (UDF)

Case no. 4:21-cr-289-O

On January 21, 2021, a jury convicted defendants Hollis Morrison Greenlaw, Benjamin Lee Wissink, Cara Delin Obert, and Jeffrey Brandon Jester of conspiracy to commit wire fraud, conspiracy to commit securities fraud and eight substantive counts of securities fraud.  Between January 2011 and December 2015, the defendants engaged in a scheme to defraud using investment fund entities known as United Development Funding III LP, United Development Funding IV, and United Development Funding Income Fund V (collectively “UDF entities”).  The UDF entities were based out of Grapevine, Texas. 

On May 20, 2022, the defendants were sentenced as follows:

Hollis Greenlaw - 84 months in custody, 5 years’ supervised release, and a $50,000 fine
Benjamin Wissink - 60 months in custody, 5 years’ supervised release, and a $50,000 fine
Cara Obert - 60 months in custody, 5 years’ supervised release, and a $50,000 fine
Jeffrey Jester - 36 months in custody and 5 years’ supervised release
 

Victims: 

The defendants have recently sought a pardon, and the Office of the Pardon Attorney invites the victims of this offense to comment on the requested pardon.  Victims may do so by email at USPardon.Attorney@usdoj.gov.  Please make sure to include in your email “Pardon Application Number P329935” and the names of the defendants.

For assistance, please call the NDTX Victim Witness Hotline at 1-800-496-8341. 

Court Documents: 

Important Dates: 

10/15/2021 – Defendants are indicted 

1/21/2022 – Defendants are convicted at trial 

4/20/2022 – Victim impact statements due 

5/20/2022 – Defendants were sentenced as outlined above by U.S. Chief District Judge Reed C. O’Connor

Press Releases: 

United Development Funding Execs Convicted of Fraud

U.S. Attorney Seeking Investors Defrauded by United Development Funding