A Florida federal court has approved a settlement reached between the court-appointed receiver for the failed Jay Peak EB-5 project and the town of Jay, Vermont, on interest and penalties stemming from $2 million in property taxes paid late to the town.
The tax dispute arose from several projects that were part of a $350 million investment fraud scheme allegedly orchestrated by Miami-based businessman Ariel Quiros, who owned the Jay Peak ski resort in Vermont.