New York fund manager pleads guilty to Belize airport scam – Global Rubber Markets

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New York fund manager pleads guilty to Belize airport scam – Global Rubber Markets 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.

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American investment manager 48-year-old Brent Borland has pleaded guilty to running a US$21.9 million fraud in Belize between 2014 and 2018. Borland admitted to falsely telling dozens of investors their money was going to be used to construct an international airport in Placencia southern Belize, promising them double-digit rates in returns for their investment.

Federal Trade Commission Shuts Down Multimillion-Dollar Scam Linked to Belize Chairman Marcus Agius told investors, gathered in London to rubber-stamp the deal. It has also moved to gain extra funds from the qatari investment authority and Challenger, which represents.