Articles Tagged with IMS Securities

A Financial Industry Regulatory Authority arbitration panel has awarded eight retirement investors $1,019,211 in a Texas real estate investment trust case involving three United Development Funding (UDF) REITs. United Development Funding is made up of private and publicly traded investment funds that use investor money to give loans to land developers and homebuilders.

According to the claimants, IMS Securities, a Houston-based brokerage firm that is no longer in operation, and its chief executive Jackie Divono Wadsworth recommended through a third party that investors purchase retirement accounts in the:

• United Development Funding II