EB-5 Archives - VTDigger


Until we sued for EB-5 records, the public didn’t know.

We were finally able to get at the truth about the state’s EB-5 program in March — after a protracted battle with the Vermont Attorney General’s office. Please support VTDigger’s investigative reporting. $113,184 left to raise by June 15th.

Judge asks Quebec counterpart to compel testimony on resort

“The evidence … is necessary in order for the Court to do justice in this case,” the judge wrote. The SEC wants to question executives of the company that sold Jay Peak to Ariel Quiros.

SEC seeks to depose Canadian executives over Jay Peak sale

Federal regulators filed a request to compel officials with Saint-Sauveur Valley Resorts to explain how Ariel Quiros purchased the ski resort.

Jay Peak receiver asks town board to waive $164,159 tax penalty

Under federal law, the penalties can not be applied to properties in receivership, according to Michael Goldberg, the receiver for the Jay Peak properties.

Stenger ‘providing tremendous value’ on the job at resorts

The former president and CEO at Jay Peak, who is accused of investor fraud, works as a part-time consultant for $50 an hour and the use of a Volvo.

Jay Peak profits rise to over $9 million, officials report

That’s estimated to be quadruple what they were in the prior fiscal year, when Ariel Quiros and Bill Stenger were still in charge and about to face state and federal fraud allegations.

Senate zeroes out Vermont EB-5 Regional Center budget

Lawmakers call for the restructuring of the state-run immigrant investor program in the wake of allegations of fraud at Jay Peak.

Quiros takes new approach in EB-5 case: Cooperate

A new lawyer says her client’s past team had a “contentious” approach, which she said has “not served Mr. Quiros well so far.”

Fraud case leaves heartache, and ‘hole,’ in Newport year later

“I think what happened in having the bubble burst was good in some way,” said one resident. “It made people realize they need to pull together as a community.”

UPDATED: Raymond James agrees to pay $150 million in EB-5 fraud settlement

The money from Raymond James and Associates Inc. will go to contractors who are still owed for work on Northeast Kingdom projects and investors who poured in millions.

Court filings show bad blood between Quiros, former attorneys

The flurry of filings submitted late last week reveal a breakup that is getting increasingly bitter with each additional motion submitted to the court.

Jay Peak EB-5 investors sue Saint Sauveur Valley Resorts

Immigrant investors allege the Quebec company knowingly transferred money to Ariel Quiros for the purchase of Jay Peak Resort.

Quiros drops appeal of order freezing his assets

The Miami businessman is no longer fighting a court injunction that froze assets accumulated through investor funds, including Jay Peak and Burke Mountain ski resorts.

State extends deadline for Mount Snow project

Due to previous EB-5 funding delays, a state deadline for Mount Snow’s 120 million gallon snowmaking project has been pushed to October 2018.