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Oct 8, 2021

Fake Placencia Airport Scammer Sentenced to Seven Years in Prison

Brent Borland

A seven-year prison sentence has been handed down by U.S. District Judge Katherine Polk Failla in the case against Brent Borland, the owner of a New York-based investment fund.  Borland was convicted of orchestrating a scheme that was perpetrated through Belize Infrastructure Fund between 2014 and March 2018 during which they solicited and received large funds from forty investors.  Borland, a fifty-one-year-old resident of West Palm Beach, Florida, claimed the monies would be used to construct an airport in Placencia, and promised high rates of return.  He also said the investments would be fully secured by real property in Belize that was free of any liens or obligations.  Instead, Borland misappropriated the funds for his own personal benefit, diverting significant amounts of money to cover his personal expenses, including mortgage payments, credit card bills, luxury cars, a beach club membership, and private school tuition for his children.  On Tuesday, U.S. Attorney for the Southern District of New York, Audrey Strauss, announced that Borland was sentenced in a Manhattan federal court to eighty-four months in prison, after pleading guilty in February 2019 to conspiring to commit and committing securities and wire fraud.  In addition to his prison term, Borland was sentenced to three years of supervised release and ordered to pay forfeiture of twenty-six point five million dollars and twenty-six point one million dollars in restitution to those he defrauded.

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