The SEC 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. Interestingly, the SEC also names Borland’s wife, Alana LaTorra Borland, and a jointly owned corporation as a relief defendant. Evidently, Borland transfers assets to his wife and corporation, in anticipation of the SEC’s action. The SEC is intent on recovering investor proceeds.
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