The financial investment firm claims it is entitled to 75% of the money based on the terms of its earlier agreement with the court-appointed receiver, Michael Goldberg.
Under the deal, the immigration attorney would have to sign a statement saying he relied on the state’s purported oversight of the scandal-plagued developments for ensuring no wrongdoing.
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 former Jay Peak owner, who has pleaded guilty to criminal charges and faces up to eight years in jail, also wants his passport back to conduct international business.
The news organization is seeking documents related to the operations of the state-run EB-5 Regional Center to find out why state officials didn’t act sooner to protect investors from fraud from now criminally indicted Jay Peak developers.
The two former business partners appear headed for a confrontation over who should shoulder the blame for a $100 million biomedical research facility in Newport that regulators called ‘nearly a complete fraud.’
Two separate lawsuits tied to the Jay Peak investor fraud scandal had hearings Wednesday in federal court in Vermont, the first proceedings in months because of the pandemic.
The 32-page document released Tuesday reveals little new, providing mostly background on the state’s EB-5 program as larger questions over how the state allowed the largest fraud in Vermont’s history to occur remain.
Quiros entered three guilty pleas Friday to charges stemming from a collapsed plan to build a $110M biomedical research facility in Newport.
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.
The former Jay Peak owner will not be sentenced Friday when he is expected to change his plea. Instead, that hearing will be set for a later date, with federal prosecutors agreeing to seek a sentence of no more than 97 months behind bars.
The terms of the resolution of the criminal charges against Jay Peak’s former owner were not revealed during a hearing Friday when his attorney told a judge his client is working along with prosecutors and is planning a plea.
The latest fee and expense request from Michael Goldberg is $707,874 for a six-month span, bringing the total fees and expenses since taking the post of receiver in April 2016 to $8,380,099.
No bids have yet been submitted for the Northeast Kingdom ski area, which has been on the market since early 2019.