Saturday, December 2, 2017

State paid $60,000 for advice on future of Vermont EB-5 Regional Center

(Source: ) he state commerce agency hired two securities law firms last year to field questions from a federal agency after allegations of fraud were brought against the developers at Jay Peak Resort.

The fraud, which involved $200 million in allegedly stolen EB-5 money, occurred under the state’s watch. The misuse of foreign investor funds began in 2008 when the developers used EB-5 money to buy the resort. Federal regulators say that act of fraud launched a Ponzi scheme that continued unabated for a decade. Read more at

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