A lawyer for Alex MacLean, who served as former Gov. Peter Shumlin’s deputy chief of staff, took strong exception to the claim included in a filing by attorneys for indicted former Jay Peak president and CEO Bill Stenger.
The agreement between the resort’s court-appointed receiver and its former owner resolves a lawsuit related to the purchase of the ski area by Ariel Quiros in 2008, allegedly with investor funds that were not supposed to be touched.
William Kelly pleaded guilty to two of the 10 charges leveled against him in a project known as AnC Bio Vermont, termed by federal regulators “nearly a complete fraud.”
The news organization claims in a lawsuit filing that the state’s refusal to release EB-5 records and its “broad” interpretation of a Vermont Public Records Act exemption diverges from other jurisdictions in the nation.
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.
A federal prosecutor said the U.S. attorney’s office is not responsible for the spoliation of records by state officials.
The property was turned over to a federal receivership after the former resort owner reached a settlement in a civil lawsuit brought by the Securities and Exchange Commission.