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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. 



According to the Crime Victims' Rights Act, UDF victims may be entitled to restitution. Potential victims include the roughly 30,000 individuals who invested in UDF III, UDF IV, and UDF V. 

If you believe you are an investor who was harmed by the defendants’ actions described above, you may submit a victim impact statement orally and/or in writing at the sentencing hearing. A sample Victim Impact statement is provided in the below link. So that Victim Impact Statements are received in a timely manner, please submit your Victim Impact Statement via email to by April 20, 2022.

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 are set to be sentenced @ 9 a.m. in Fort Worth (Eldon B.Mahon Federal Courthouse, 501 W. 10th Street, Room 201, Fort Worth, Texas 76102) before U.S. 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

Updated March 24, 2022