Homeland Security rejects Vermont's attempt to reopen EB-5 Center
The feds are rejecting Vermont's attempt to reopen the state's EB-5 Center.
The EB-5 program allows foreigners to invest in a development project in exchange for green cards and being put on a fast track for citizenship.
In 1997, Vermont opened its EB-5 Center and projects worth millions flowed through it.
Then, in 2016, the Kingdom Con broke-- the largest fraud in Vermont history. Investigators say more than $200 million was misused.
The feds shut down Vermont's EB-5 Center in 2018.
Tuesday, Homeland Security rejected Vermont's appeal to reopen the center.
But that might not be the end of the story. Economic Development Commissioner Joan Goldstein tells WCAX News the state is reviewing the decision and considering whether to challenge it.
- United States of America vs Ariel Quiros & Bill Stenger
- Michael I. Goldberg vs Ariel Quiros
- MICHAEL I. GOLDBERG vs The AM Wealth Management Group of Raymond James & Ariel Quiros & Joel Burstein
- JAMES B. SHAW, JOHANNES EIJMBERTS, and LORNE MORRIS Individually and On Behalf of All Others Similarly Situated, vs The AM Wealth Management Group of Raymond James & Bill Stenger & Joel Burstein & Ariel Quiros
- ALEXANDRE DACCACHE, on behalf of himself and all others similarly situated vs Ariel Quiros & Bill Stenger & The AM Wealth Management Group of Raymond James & Joel Burstein
- State of Vermont vs Bill Stenger & Ariel Quiros
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Ariel Quiros & Bill Stenger
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