SEC Charges Owner of Alternative Investment Firm in Belize Airport Financing Scam
Brent Borland, owner of Manhattan-based investment firms, defrauded investors of $21 million by falsely promising to finance a Belize airport, instead misappropriating nearly $6 million for personal luxuries and pledging the same collateral to multiple investors, leading to SEC civil charges, a criminal arrest, and asset freezes.
The SEC charged Brent Borland, Borland Capital Group LLC, and Belize Infrastructure Fund I, LLC with violating federal antifraud securities laws after Borland raised over $21 million from investors through fraudulent promissory notes claiming to fund an airport in Belize. He allegedly diverted nearly $6 million for personal expenses—including his Florida mansion, luxury cars, private school tuition, $36,000 in beach club fees, and $2.7 million in credit card payments—while falsely pledging the same real estate collateral to multiple investors. The SEC seeks asset freezes, disgorgement, civil penalties, and recovery of funds transferred to relief defendants, including his wife and their corporation, while the U.S. Attorney’s Office for the Southern District of New York has filed parallel criminal charges and arrested Borland.
Brent Borland, owner of Manhattan-based alternative investment firms Borland Capital Group LLC and Belize Infrastructure Fund I, LLC, is accused of orchestrating a $21 million fraud by selling promissory notes to dozens of investors under the false pretense that funds would finance the construction of an international airport in Placencia, Belize. Instead, Borland misappropriated close to $6 million of investor money for personal luxuries, including mortgage and property tax payments on his Florida mansion, multiple luxury automobiles, private school tuition for his children, a $36,000 beach club membership, and nearly $2.7 million to pay off personal credit card debt. He further deceived investors by pledging the same real estate assets as collateral to multiple parties, creating a fraudulent web of security claims. The SEC filed civil charges against Borland and his companies for violating federal antifraud securities provisions, seeking asset freezes, disgorgement of ill-gotten gains, civil penalties, and recovery of funds transferred to relief defendants—his wife, Alana LaTorra Borland, and their corporation, Canyon Acquisitions, LLC. In a parallel criminal action, the U.S. Attorney’s Office for the Southern District of New York arrested Borland earlier in the day on related charges. The SEC’s investigation remains ongoing, with litigation led by Benjamin Hanauer and Timothy Leiman, and the agency has obtained immediate injunctive relief to protect victims from further losses.
Exhibits & Attached Documents (1)
Extracted insights
- $21.00M $21 million $10M–$100M
- $6.00M $6 million $1M–$10M
- $2.70M $2.7 million $1M–$10M
- $36K $36,000 $10K–$100K
- company alana latorra borland and canyon acquisitions, llc
- company borland capital group and belize infrastructure fund
- person brent borland
- agency Securities and Exchange Commission
- Securities And Exchange Commission charged Brent Borland
- Brent Borland misappropriated $6 Million
- Brent Borland sold $21 Million Of Promissory Notes
- Brent Borland used Investor Funds For Personal Expenses
- Brent Borland deceived Investors
- Securities And Exchange Commission obtained Asset Freeze And Immediate Injunctive Relief
- Securities And Exchange Commission charged Borland Capital Group And Belize Infrastructure Fund
- Securities And Exchange Commission seeks Asset Freezes, Accounting, Disgorgement, And Civil Penalties
- Securities And Exchange Commission named Alana LaTorra Borland And Canyon Acquisitions, LLC
- U.S. Attorney’s Office For The Southern District Of New York announced Criminal Charges Against Brent Borland
- Andrew O’Brien And Donald Ryba conducted Securities And Exchange Commission's Investigation
- C.J. Kerstetter supervised Securities And Exchange Commission's Investigation
- Benjamin Hanauer And Timothy Leiman led Securities And Exchange Commission's Litigation
The Securities and Exchange Commission today charged the owner of a Manhattan-based alternative investment firm with misappropriating close to $6 million in investor funds earmarked to finance the construction of an international airport in Belize. The SEC’s complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million of promissory notes to dozens of investors, promising that the funds would be used as bridge financing for development of an international airport in Placencia, Belize, and that the investments would be protected by pledges of real estate as collateral. Borland marketed and sold the notes through two companies, Borland Capital Group LLC, which purports to be active in “alternative investment,” and Belize Infrastructure Fund I, LLC, which purports to be in the business of construction finance. The complaint alleges that Borland used millions of dollars of investor funds for personal expenses and unrelated business expenses, including mortgage and property tax payments on his family’s Florida mansion, multiple luxury automobiles, private school tuition for his children, $36,000 for his family’s beach club membership, and almost $2.7 million to pay off credit cards. Borland also allegedly deceived investors by pledging the same collateral to multiple investors. “Investors should be able to count on the fact that their invested funds are used as promised,” said Robert J. Burson, Associate Regional Director of the SEC's Chicago Regional Office. “We obtained an asset freeze and immediate injunctive relief in this case to protect victims from alleged false promises.” The SEC's complaint charges Borland, Borland Capital Group and Belize Infrastructure Fund with violating the antifraud provisions of the federal securities laws. The SEC seeks asset freezes, an accounting of investor assets, disgorgement, and civil penalties. The complaint also names as relief defendants Borland’s wife, Alana LaTorra Borland, and a corporation controlled by Borland and his wife, Canyon Acquisitions, LLC. The SEC seeks to recover investor proceeds that Borland transferred to the relief defendants. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Borland who was arrested earlier in the day. The SEC's investigation, which is continuing, was conducted by Andrew O’Brien and Donald Ryba and supervised by C.J. Kerstetter. The SEC's litigation will be led by Benjamin Hanauer and Timothy Leiman.
The Securities and Exchange Commission today charged the owner of a Manhattan-based alternative investment firm with misappropriating close to $6 million in investor funds earmarked to finance the construction of an international airport in Belize. The SEC’s complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million of promissory notes to dozens of investors, promising that the funds would be used as bridge financing for development of an international airport in Placencia, Belize, and that the investments would be protected by pledges of real estate as collateral. Borland marketed and sold the notes through two companies, Borland Capital Group LLC, which purports to be active in “alternative investment,” and Belize Infrastructure Fund I, LLC, which purports to be in the business of construction finance. The complaint alleges that Borland used millions of dollars of investor funds for personal expenses and unrelated business expenses, including mortgage and property tax payments on his family’s Florida mansion, multiple luxury automobiles, private school tuition for his children, $36,000 for his family’s beach club membership, and almost $2.7 million to pay off credit cards. Borland also allegedly deceived investors by pledging the same collateral to multiple investors. “Investors should be able to count on the fact that their invested funds are used as promised,” said Robert J. Burson, Associate Regional Director of the SEC's Chicago Regional Office. “We obtained an asset freeze and immediate injunctive relief in this case to protect victims from alleged false promises.” The SEC's complaint charges Borland, Borland Capital Group and Belize Infrastructure Fund with violating the antifraud provisions of the federal securities laws. The SEC seeks asset freezes, an accounting of investor assets, disgorgement, and civil penalties. The complaint also names as relief defendants Borland’s wife, Alana LaTorra Borland, and a corporation controlled by Borland and his wife, Canyon Acquisitions, LLC. The SEC seeks to recover investor proceeds that Borland transferred to the relief defendants. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Borland who was arrested earlier in the day. The SEC's investigation, which is continuing, was conducted by Andrew O’Brien and Donald Ryba and supervised by C.J. Kerstetter. The SEC's litigation will be led by Benjamin Hanauer and Timothy Leiman.