Important Campaign Update

Thanks for bringing this to my attention and affording me an opportunity to respond. In the spring of 2013, I worked briefly for a company collectively known as United Development Funding. They were a NASDAQ listed company that provided securitized loans to residential developers and home builders that was reputable and well known. In fact I had, along with a number of other DFW banks, provided loans to UDF in my banking days, all of which performed exactly as agreed. My job was to line up construction lines of credit for the company’s homebuilders given my knowledge of community banks. I say I was only there a few months as shortly thereafter my wife was diagnosed with a very serious brain cancer, medulloblastoma, and I took a leave from work to see to her treatment and care and even spent 4 months in Houston at MD Anderson getting her proton radiation therapy. I left at the end of the year but was very grateful for the compassion they showed me by keeping me on while I was trying to save my wife.

 

As best as I understand, in 2016, Dallas investor Kyle Bass felt that United Development Funding was transferring and renewing loans from one fund to another and made public accusations while also taking a short position against UDF’s stock. While I had no knowledge of this side of the business, and the company fully complied with SEC filing requirements, there must have been something to the accusations. That year the FBI raided their headquarters and 6 years later, in a very complex case, the 4 top executives were convicted of fraud.

 

In conclusion, I worked there two months, I have no way of knowing if the charges were true or not, and the investigation occurred 3 years after I was gone. I was not part of the investigation nor was I ever contacted by the authorities, media, etc. about it.

 

Thanks and God bless,
John