Sunday, April 16, 2017

Raymond James Firm to Pay $145.5 Million to Settle Vermont EB-5 Suit

(Source: Seven Days) A $145.5 million settlement with the financial services firm Raymond James & Associates will allow scores of Vermont contractors and foreign investors to be paid for losses related to Northeast Kingdom EB-5 development projects, officials announced Thursday evening.

The announcement came a year after federal and state prosecutors levied fraud charges against Jay Peak developers Ariel Quiros and Bill Stenger, alleging they misappropriated $200 million raised through the federal EB-5 immigrant investment program. See story at http://www.sevendaysvt.com/

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