GRAPEVINE, Texas, Jan. 24, 2022 (GLOBE NEWSWIRE) — Pending appeal of the recent conviction of two executives associated with United Development Funding IV (“UDF IV”) and United Development Funding Income Fund V (“UDF V” and together the “Trusts”), the Trusts announced the following management and Board of Trustee changes effective immediately:
- Jim Kenney was appointed acting Chief Executive Officer of UDF IV and UDF V and elected to the UDF IV Board of Trustees as a Managing Trustee
- Stacey Dwyer was appointed acting Chief Financial Officer of UDF IV and UDF V
- Larry Jones was elected to the UDF V Board of Trustees as an independent trustee; he will also serve as Chairman of the Board of Trustees of both Trusts
- Hollis Greenlaw resigned as a trustee of both Trusts
About United Development Funding IV
United Development Funding IV is a Maryland real estate investment trust. UDF IV was formed primarily to generate current interest income by investing in secured loans and producing profits from investments in residential real estate. Additional information about UDF IV can be found on its website at www.udfiv.com. UDF IV may disseminate important information regarding its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
About United Development Funding Income Fund V
United Development Funding Income Fund V is a Maryland real estate investment trust. UDF V was formed primarily to generate current interest income by investing in secured loans and producing profits from investments in residential real estate. Additional information about UDF V can be found on its website at www.udfincomefundv.com. UDF V may disseminate important information regarding its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
