Feds scrutinize Vermont’s EB-5 program


In April, the state Department of Financial Regulation and U.S. Securities and Exchange Commission alleged Jay Peak and Burke Mountain principals Ariel Quiros and Bill Stenger perpetrated one of the biggest frauds in EB-5 history, misappropriating some $200 million of investor funds. Both resorts have been placed under federal receivership as a federal court in Miami attempts to sort out the situation. Quiros and Stenger have denied the allegations

For More: Scrutiny of Vermont's EB-5 Program