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U.S. Charges Brent Borland With $21 Million Investment Fraud

Trading On The Floor Of The NYSE As Stocks Drop While Investors Turn on Banks
Photographer: Michael Nagle/Bloomberg
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The founder of a New York-based investment firm was charged with defrauding investors and using their money to fund a lavish lifestyle, including payments for a Florida mansion, multiple luxury cars and private school tuition.

Borland Capital Group LLC founder Brent Borland, 48, of Sag Harbor, was charged in a complaint unsealed in Manhattan federal court Wednesday with cheating investors who contributed more than $21 million for the construction of a Belize airport by falsely promising a high rate of return secured by property owned by the firm.