Four executives from a Grapevine-based real estate investment firm have been sentenced to a total of 20 years in prison, says U.S. Attorney Chad Meacham.
According to the attorney for the Northern District of Texas, a federal jury convicted executives from the United Development Funding firm (UDF).
The four of them were found guilty in January for 10 counts, including securities fraud, conspiracy to commit securities fraud, and conspiracy to commit wire fraud affecting a financial institution. They were all sentenced to prison on Friday.
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