The businesses received full payment, but not all survived the wait. “They were the victims, along with the investors, and many other people,” said one regulator.
Lawyers for the Northeast Kingdom developer charged with running a “Ponzi-like” scheme say they are owed a total of $3 million.
If the AG’s office’s role is defense and protecting the state, then who represents the citizens of the state if officials are guilty of wrongdoing?
Investors say state officials were warned in 2012 that Bill Stenger was rewarding immigration lawyers, but chose not to investigate. There is a hearing in the case Monday.
Plaintiffs argue that Saint-Sauveur was aware that Quiros was using the investors’ money improperly.
Former lawyers for Jay Peak owner Ariel Quiros are trying to collect $3 million in unpaid legal fees, but his current lawyer and the court-appointed receiver overseeing Quiros’ frozen assets are saying not so fast.
The Stowe resident seeks $2 million in damages for breach of contract, consumer fraud and breach of fiduciary duty.
On this week’s podcast, VTDigger Editor Anne Galloway joins WDEV’s Mike Smith to talk about two new developments in the Jay Peak EB-5 case.
On ProPublica’s latest podcast, VTDigger’s Anne Galloway discusses her investigation into the multimillion-dollar Northeast Kingdom development that she thought was “too good to be true.”
U.S. Citizenship and Immigration Service says the state “failed to properly engage in management, monitoring and oversight of the program for many years.”
The investors have until Aug. 31 to decide to either get back their $500,000 investment in AnC Bio Vermont, or put the money toward another project EB-5 project approved by a court.
The Vermont Attorney General will file a motion to dismiss in September.
In total, the receivership has now been awarded $3.3 million to cover its expenses since investor fraud allegations were brought against developers Ariel Quiros and Bill Stenger in 2016.
In dueling court filings, the two sides disagree over what arguments Ariel Quiros should be allowed to raise to allegations he defrauded foreign investors.