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July 13, 2018

Ski area developers pay in EB-5 fraud

NEWPORT, Vt. (AP) — Vermont has settled a lawsuit against two ski resort developers who were accused of defrauding the state's troubled immigrant investor program.

Attorney General T.J. Donovan announced on Thursday that former Jay Peak ski area owner Ariel Quiros, of Miami, will pay the state $2 million, satisfied by giving it five properties in and around Jay Peak. Those properties will be liquidated, and the money will be earmarked for economic development, Donovan said.


 
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