Brent Borland allegedly ran a fraudulent investment scheme that purported to raise money to finance the construction of an international airport in Placencia, Belize, but in reality transferred much of the money to Borland himself, and used it to pay for his luxurious lifestyle, according to an SEC Complaint under review by securities attorney Paul Scarlato.
Attorney Paul Scarlato of the Goldman Scarlato & Penny law firm is investigating sales practices related to Brent Borland’s allegedly fraudulent investment scheme and is available to talk to investors who were recruited by brokers to invest in Borland’s alleged scheme.
Borland advertised and sold fraudulent promissory notes to investors through a number of brokers, who received over $1.4 million in total sales commissions, the SEC Complaint states.
The first of Borland’s investment programs was Belize Infrastructure Fund I, LLC, a Florida Limited Liability Company, and the second was Borland Capital Group LLC, a Delaware Limited Liability Company headquartered in New York City, the SEC Complaint notes. Both programs purported to be in the business of selling promissory notes to finance the construction of an airport in Placencia, Belize.
Borland allegedly siphoned investor funds and diverted them to himself and his family via the account of another entity under his control, Relief Defendant Canyon Acquisitions,LLC, a holding company owned by Borland and his wife, the SEC Complaint states.
As Borland and his family reaped the benefits of at least $5.98 million in purloined investor cash, his promissory note investors were not so fortunate, according to the SEC Complaint. The maturity dates on nearly all— if not all— of those notes have passed without repayment and all of the notes have slipped into default, the SEC Complaint states. Most note investors have not been paid any of what they are owed, including no interest payments and there has been no return of principal, the SEC alleged.
Borland and certain other defendants sued by the SEC, in the course of the alleged fraud, allegedly made repeated misrepresentations and reportedly hid material information from investors. In addition to making false statements about the use of investor funds, the defendants purportedly promised huge returns with quick payment terms, the SEC alleged. Borland, however, while selling his notes to new investors, concealed that the overwhelming majority of prior notes were in default and prior note investors had not been paid one penny of interest or principal, the SEC Complaint alleges.
The Goldman Scarlato & Penny, PC law firm represents investors who lose money as a result of investment-related fraud or misconduct, and is currently investigating Brent Borland’s alleged investment scheme. 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 Paul Scarlato has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Brent Borland’s alleged investment scheme may contact attorney Paul Scarlato for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.