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The Securities and Exchange Commission (SEC) announced on Wednesday that it has charged the owner of an alternative investment fund with misappropriating close to $6 million in funds. The US regulator stated that Brent Borland had promised investors he would be using the cash to invest in an infrastructure project.
According to the SEC, Borland sold $21 million worth of promissory notes between 2014 – 2017. He claimed that the funds would be used to help build a new international airport in Placencia, an island resort off the coast of Belize.
The promissory notes were sold through a family office ... (read more)