The settlement agreement ends years of litigation between the parties over the financial institution’s alleged role in an EB-5 investor fraud scandal in Vermont’s Northeast Kingdom.
The reversal of the federal agency’s decision to shutter the state-run program in the wake of the Jay Peak scandal is good news for defrauded investors.
Attorneys for William Kelly wanted a separate trial from Bill Stenger, fearing Stenger’s lawyers will place blame on Kelly and taint the jury.
The Vermont Attorney General’s office has asked the court for permission to redact records and charge tens of thousands of dollars to produce them. The state also wants to stall depositions of state officials, including former Gov. Peter Shumlin.
Ed Carroll and Mark Scribner simultaneously represented the interests of the Jay Peak corporation and immigrants seeking green cards. The attorneys allegedly aided Bill Stenger in duping investors.
The latest fee request from Michael Goldberg, who manages Jay Peak and Burke Mountain ski areas and other assets in an investor fraud scandal, totals more than $700,000 for a six-month period.
A trial initially set for October of this year is now scheduled for April 2021 as attorneys cited the Covid-19 pandemic for the latest change due to the difficulty the virus currently creates in holding jury trials.
Quiros has no formal plea agreement in place, but is ready to plead out and is already cooperating with prosecutors in a criminal case stemming from a massive investors fraud scandal that rocked Vermont.
A lawyer for Jay Peak’s former owner claims prosecutors improperly used ‘privileged’ records between Ariel Quiros and his former attorney.
Attorneys representing the three men accused of fraud in a NEK project say they may seek to postpone the trial because of the massive amounts of discovery to review.
Investors can proceed with negligence claims against the state for lax oversight of Jay Peak projects.
Documents show an inkling of how involved state officials, and Vermont’s senior senator, were in the Jay Peak projects.
Judge Christina Reiss’ reversal comes in a legal dispute regarding the questioning of a whistleblower about what he knows about an alleged Jay Peak “kickback” scheme.
The move Friday to can Stenger comes a little more than a week after Stenger was indicted by a federal grand jury on several counts, including wire fraud and making false statements.