EB-5 Fraud: Protecting Your Investment and Immigration Journey
The EB-5 Immigrant Investor Program offers foreign nationals a pathway to permanent residency in the United States by investing in job-creating enterprises. For many investors, the program represents not just a financial opportunity but a chance to secure a better future for their families in America.
EB-5 Final Report, Doug R. Offer, Vermont State Auditor
Dear Colleagues, Vermont’s Northeast Kingdom was the location of a widely publicized, multi-million-dollar fraud in the Federal government’s EB-5 program. This fraud was perpetuated by three individuals (Ariel Quiros, William Kelly, and. William Stegner) who were each convicted and imprisoned on charges brought by the U.S. Attorney’s office for the District of Vermont. The eight EB-5 projects at the heart of the fraud included a biomedical research park known as ANC Bio Vermont and the Jay Peak and Burke Mountain resorts.
The Rural Ski Slope Caught Up In An International Scam
A federal program promised to bring foreign investment to remote parts of the country. It soon became rife with fraud.
Vermont’s EB-5 settlement calls for attorneys to receive $5.5 million, some investors to get $1,000
Michael Goldberg, a court-appointed receiver overseeing assets tied to a massive investor fraud case in Vermont’s Northeast Kingdom, has submitted a filing outlining how $16.5 million in settlement money from the state could be divided.
Vermont state government announces $16.5M to settle EB-5 lawsuits, Vermont Public
The state of Vermont has agreed to pay $16.5 million to settle all pending lawsuits - and potential lawsuits - related to the EB-5 scandal.
State to pay up to $16.5 million to resolve EB-5 claims by defrauded Jay Peak investors - VTDigger
The deal, which requires court approval, would bring to a close any pending or potential lawsuits against the state for it’s roll in the EB-5 scandal.