{"id":6680,"date":"2018-11-18T13:00:14","date_gmt":"2018-11-18T19:00:14","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6680"},"modified":"2018-11-18T13:00:14","modified_gmt":"2018-11-18T19:00:14","slug":"houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/","title":{"rendered":"IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case"},"content":{"rendered":"<p>\t\t\t\tA <a href=\"http:\/\/www.finra.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority<\/a> arbitration panel has awarded eight retirement investors $1,019,211 in a Texas real estate investment trust case involving three <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/investments\/\">United Development Funding (UDF) REITs<\/a>. 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.<\/p>\n<p>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:<\/p>\n<ul>\n<li>United Development Funding II<\/li>\n<\/ul>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/\"  title=\"Continue Reading IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3762,3759,3750,4110],"tags":[3202,2926],"class_list":["post-6680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-investigations","category-reits","category-texas-securities-fraud","category-united-development-funding","tag-ims-securities","tag-united-development-funding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case &#8212; Investor Lawyers Blog &#8212; November 18, 2018<\/title>\n<meta name=\"description\" content=\"FINRA has awarded eight retirement investors $1,019,211 in a Texas real estate investment trust case involving IMS Securities and UDF REITs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case &#8212; 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Investor Lawyers Blog &#8212; November 18, 2018","twitter_description":"FINRA has awarded eight retirement investors $1,019,211 in a Texas real estate investment trust case involving IMS Securities and UDF REITs.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/10\/10.3.18.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case","datePublished":"2018-11-18T19:00:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/"},"wordCount":562,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/10\/10.3.18.jpg","keywords":["IMS Securities","United Development Funding"],"articleSection":["Current Investigations","REITs","Texas Securities Fraud","United Development Funding"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/","url":"https:\/\/www.investorlawyers.com\/blog\/houston-based-broker-dealer-ordered-to-pay-retirement-investors-1m-in-udf-reit-case\/","name":"IMS Securities Ordered to Pay Retirement Investors $1M in UDF REIT Case &#8212; 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