Brent Borland, Principal of Borland Capital, Allegedly Fraudulently Induced Investors to Invest over $21 Million into Various Belize Projects, Pled Guilty
Brent Borland, a New York-based investment manager who was the principal at Borland Capital Group, pled guilty to securities fraud. Borland allegedly induced investors, through fraudulent misrepresentations and omissions, to invest over $21 million into the construction of an airport in Belize by promising a high rate of return, which was supposedly secured by real property owned by the fund, according to Reports from the U.S. Attorney for the Southern District of New York under review by investor rights attorney Alan Rosca.
Attorney Alan Rosca and his colleagues have filed claims on behalf of Borland investors to seek compensation for their losses, from a securities broker-dealer firm that employed the brokers who recommended the Borland deals to said investors.
Borland allegedly ran his fraudulent scheme from 2014 to 2018, and the investors who participated in his scheme lost money, the aforementioned reports note.
Prosecutors on the case reportedly stated that Borland promised double-digit rates of return for providing temporary bridge financing for Belize construction projects, supposedly secured by real property in Belize.
Borland, 48, was reportedly arrested and charged with alleged fraud after an investigation by the SEC discovered that he had allegedly siphoned more than a dozen investors out of $21,900,000 for the construction of the Belize projects, the reports note.
Borland pled guilty to one count each of securities fraud, wire fraud and conspiracy before U.S. District Judge Katherine Polk Failla in Manhattan, the Justice Department reports. Borland’s sentencing is scheduled for June 21.
The Goldman Scarlato & Penny PC investor rights lawyers represent Borland investors and have filed claims on their behalf, seeking compensation for their losses from a brokerage firm whose agents recruited investors. Attorneys Alan Rosca and his colleagues are available to talk to additional investors who believe they may have lost money in activity related to Brent Borland’s alleged securities fraud for a free, no obligation discussion about their options.
Invested with Brent Borland?
Brent Borland Allegedly Used Investor Funds for Personal Use; Borland Facing 20 Years in Prison
Borland’s aforementioned investment deals were supposed to have been in Placencia, Belize. Borland allegedly promised investors double-digit returns on their investment, according to Reports from the U.S. Attorney for the Southern District of New York.
Brent Borland, however, reportedly used investor cash to finance a luxurious lifestyle including $2.67 million for credit card bills, mortgage payments on a Florida mansion, a Mercedes-Benz SUV, membership dues at the Delray Beach Club, and private school tuition for his children, according to court papers released in 2018.
Invested with Brent Borland?
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related misconduct and are currently investigating Brent Borland’s alleged securities fraud. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Brent Borland’s alleged securities fraud may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage. and executed unauthorized trades, FINRA states.