United States Securities and Exchange Commission v. Borland et al

Filing 65

FINAL JUDGMENT AS TO RELIEF DEFENDANT ALANA LaTORRA BORLAND: The United States Securities and Exchange Commission having filed a Complaint and Relief Defendant Alana LaTorra Borland ("Relief Defendant") having entered a general appearan ce; consented to the Court's jurisdiction over Relief Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint ( except as to jurisdiction and exce pt as otherwise provided herein in paragraph III); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Relief Defendant is liable, jointly and se verally with Defendant Brent Borland, for disgorgement of $6,266,843.37, representing net profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $949,020.96, whic h shall be deemed satisfied by the following: (a) the Order of Restitution entered against Defendant Brent Borland in United States v. Borland, Case No. l:18-cr-487 (S.D.N.Y.) (Dkt. Entry 110); (b) the transfer of frozen funds, described herein in Section II, to the Commission; (c) Relief Defendant's and Defendant Brent Borland's consent to the Court's appointment of a Liquidation Agent to take possession of, market for sale, and sell the real property located at 43 North Hav en Way, Sag Harbor, NY 11963 (the "Sag Harbor Property"); and (d) the Liquidation Agent's turnover of its net proceeds, if any, from the sale of the Sag Harbor Property to the Commission, AS FURTHER SET FORTH HEREIN. IT IS FURTHER O RDERED, ADJUDGED, AND DECREED that the Consent is incorporated herein with the same force and effect as if fully set forth herein, and that Relief Defendant shall comply with all of the undertakings and agreements set forth therein. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the allegations in the complaint are true and admitted by Relief Defendant, and further, any debt fordisgorgement, prejudgment interest, civil penalty or other amounts due by Relief Defendant under this Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered in connection with this proceeding, is a debt for the violation of the federal securities laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED t hat this Court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment and the sale of the Sag Harbor Property. (AS FURTHER SET FORTH IN THIS ORDER.) Alana LaTorra Borland terminated. (Signed by Judge P. Kevin Castel on 5/16/2024) (vfr) Transmission to Finance Unit (Cashiers) for processing. Modified on 5/16/2024 (vfr).