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.
New details are likely to come out about the state’s EB-5 program as criminal allegations and an investor case go to court in 2020.
A suit brought by three Chinese investors that alleges an attorney got payoffs for bringing foreign investors to Jay Peak developers is set for trial on April 20.
Investors can proceed with negligence claims against the state for lax oversight of Jay Peak projects.
Attorney General TJ Donovan requested Auditor Doug Hoffer hold off until the criminal cases against Ariel Quiros and Bill Stenger are resolved.
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 judge ruled that a deposition of the principals of Rapid Visas USA must move forward.
In the wake of last week’s federal charges, some are pointing a finger of blame at the state, saying it was responsible for providing oversight through the state-run EB-5 regional center.
Stowe attorney Russell Barr says defrauded foreign investors should be able to sue the state for lack of oversight on EB-5 developments.
The former governor said he never made misrepresentations about the project, despite appearing in a 2013 promotional video in which he later admitted making a false statement.
Chief assistant attorney general William Griffin argues that attorney Russell Barr is making an ‘end-run’ around a previous decision to toss his lawsuit against the state.
A Vermont Supreme Court ruling was considered a win by a group of investors seeking to intervene in a state case against the two Jay Peak developers.
The Stowe attorney is seeking to intervene to ensure that the investors interests are “adequately” represented. The state, he says, has taken “positions directly adverse to our clients and the public trust of our State.” Meanwhile, a federal investor case against People’s Bank has been dismissed.
TJ Donovan says he won’t go down the “rabbit hole of rumor and innuendo” after Russell Barr failed to provide evidence of his claims that a state official was arrested in China for sex with a minor.