Brent Borland, a New York-based investment manager who is the principal at Borland Capital Group, allegedly induced investors to contribute over $21 million into the construction of an airport in Belize by promising a high rate of return, which was then 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.
The investor rights lawyers with the Goldman Scarlato & Penny law firm, have filed claims for compensation on behalf of Borland investors, seeking the recovery of their investment losses, against a securities broker-dealer firm that employed two investment advisers who helped recruit investors to the Borland alleged scheme. They have been in touch with additional Borland investors and are evaluating additional potential claims on their behalf. Investors who believe they lost money in Borland’s alleged scheme are encouraged to contact attorneys Alan Rosca or Paul Scarlato with any useful information or for a free, no-obligation evaluation of their loss recovery options.
Borland allegedly ran the purported scheme from 2014 to 2018, and all the investors who participated in his scheme purportedly 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 the airport in Placencia, roughly 110 miles or 177 km south of Belize City, and secured by real property in Belize, the Reports notes.
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 an airport in southern Belize, the Reports note.
Borland reportedly pleaded 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 Reports note.
Securities attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Brent Borland’s alleged securities fruad. Goldman Scarlato & Penny PC represent Borland investors and have filed claims on their behalf, seeking compensation for their losses from a brokerage firm whose agents recruited investors. We are looking to talk to more investors who believe they may have lost money in activity related to Brent Borland’s alleged securities fruad for a free, no obligation discussion about their options.
Borland’s aforementioned airport deal was reportedly supposed to have been in Placencia, and 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.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
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 fruad. 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 fruad may contact attorney Alan Rosca 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. and executed unauthorized trades, FINRA states.