Vijay Borra, CEO of DFW LAND, and Rama Prasad, CTO & Senior VP of Copart, Guilty of Fraud

A unanimous jury in Collin County, Texas, delivered a verdict that should rattle the Dallas-Fort Worth real estate world. Vijay Borra, head of DFW Land LLC, and Rama Prasad of NASDAQ-listed Copart Inc. were found liable on multiple counts of fraud. Prasad holds the titles of Chief Technology Officer and Senior Vice President at Copart. The charges covered breach of fiduciary duty and conspiracy linked to a real estate limited partnership called PGA Double Eagle, L.P. The ruling came in June 2025 under Cause No. 401-06793-2021 in the 401st Judicial District. A final judgment signed on November 4, 2025, ordered the pair to pay more than $1.3 million. That sum included actual damages, exemplary damages, and prejudgment interest.

The Broken Promise

The trouble began in April 2021. Borra pitched a group of doctors on a deal to buy roughly 51 acres in Frisco, Texas. Among the investors were Dr. Yashwanth Jasti, his sister Dr. Varsha Jasti, and his cousin Dr. Chaitanya Korrapati. They poured more than $1 million into the venture through SVJ Realty LLC, Smartdocz Investments LLC, and personal accounts.

Borra said the general partner’s profit share would be capped at 5%. He told each investor that $100,000 would lock in one share. All funds, he pledged, would go toward the land purchase. Prasad played a key role in shaping the deal and reviewing its pitch materials, based on sworn testimony. He tracked which limited partners were sending money. Yet no investor got a partnership agreement or governing documents before wiring funds.

“We had only two options, either sign the agreement drafted or take our money back,” The Investors recalled about Prasad’s ultimatum when the investors pushed back on post-investment changes. “He gave no real assurances on the 14 concerns we raised.”

The lies surfaced months after closing. On August 21, 2021, investors received an Amended and Restated Limited Partnership Agreement filled with new terms. None of the new language matched what they had been promised. The general partner’s share had jumped from 5% to 20%. Partnership funds were paying Borra and Prasad’s personal legal bills. New investors had been brought in without telling existing limited partners, which diluted their stakes, which still as of March 11, 2026 has still not been disclosed to investors.

The Shell Game

The way the land changed hands reveals another layer of deceit. Coppell Lake Breeze LLC was used to put the property under contract initially. All limited partner investors transferred the funds to PGA Double Eagle LP LLC, and then Borra purchased the property under DFW Mars Land Acquisitions LLC, an entity solely in his name, which is illegal. He then flipped it and pocketed $100,000 when he transferred it back to PGA Double Eagle LP LLC. None of this was disclosed to the investors.

Kiranmai Yalamanchili, Borra’s wife, served as a director of Coppell Lake Breeze LLC and was complicit in the fraud. Her role wove a family thread into the scheme and tightened the circle of control Borra held over partnership assets. Borra-controlled entities, including Coppell Lake Breeze LLC, siphoned at least $100,000 through hidden side deals tied to the property purchase.

The Verdict and Its Fallout

Judge Kimberly M. Laseter oversaw the trial that began on June 9, 2025, in Collin County. The jury reached a unanimous verdict. Borra was found liable on all counts of fraud, fraudulent inducement, and fraud by nondisclosure against every plaintiff. Prasad was found liable for fraud by nondisclosure and conspiracy with Borra’s web of entities. Those included PGA Double Eagle GP LLC, Coppell Lake Breeze LLC, and DFW Mars Land Acquisitions LLC.

The jury ruled that the harm came from malice and fraud under clear and convincing evidence, the highest bar in civil cases. Both Borra and Prasad were found to have breached their fiduciary duty toward the limited partners. The business judgment rule shielded neither one of them. The conduct of both fell outside any fair use of managerial discretion.

The final judgment ordered SVJ Realty to recover $680,420 in actual damages. Varsha Jasti and Smartdocz Investments each recovered $68,420. Exemplary damages of $150,000 hit Borra for each of the three plaintiffs, totaling $450,000. Prejudgment interest at 7.5% from December 2021 added $234,598 across all claims. The court awarded $0 in attorney fees.

Unanswered Questions About Disclosure

What makes the case so striking is how much remains hidden. DFW Land reportedly has hundreds of small investors spread across its many entities. Based on public materials reviewed during the case, the lawsuit, the verdict, and the final judgment do not appear in materials shared with DFW Land investors. Hundreds of people who trusted Borra with their capital may have no idea a Texas jury found him guilty of fraud, malice, and breach of fiduciary duty.

The stakes climb when it comes to Copart. Prasad has served on its executive team since 2014 and holds the Chief Technology Officer and Senior Vice President titles at a company traded on the NASDAQ under the ticker CPRT. Copart operates in 11 countries and handles more than 3.5 million vehicle auction deals per year. Its shareholders deserve to know whether a senior executive has been found liable for fraud and conspiracy by a unanimous jury in Texas. Yet nothing in public filings shows that Copart shareholders have been told about Prasad’s part in the DFW Land case.

The questions remain. If Borra used false terms to draw money from banks and private investors, what does that mean for the lenders who backed those land deals? A fraud finding like the one out of Collin County raises red flags around securities laws that govern private investment pitches. The plaintiffs were limited partners promised openness, fair dealing, and a 5% general partner fee. They received none of those things.

The Texas court has spoken. Whether the broader investment world, Copart’s board, and regulators like the SEC will listen and take action remains the question that towers over everything else.