More Settlements in Vermont EB-5 Case — and Quiros Wants His Passport Back
By David North on January 8, 2021
There has been yet another multi-million dollar settlement in the continuing drama of the multiple failed EB-5 investments in the state of Vermont.
This time, the settlement is for about $8 million, and it will go to a group of alien investors and, of course, their lawyers, according to a Law360 article (partly paywalled).
The EB-5 program gives the families of investors a family-sized set of green cards if they invest $900,000 (formerly $500,000) in a Department of Homeland Security-approved, but not guaranteed, investment, usually in real estate.
As we reported earlier, Ariel Quiros, a Florida businessman, pleaded guilty to three separate federal criminal charges for his (major) role in the case, which involved ski resorts and a proposed pharmaceutical factory, among other ventures. He will not be sentenced until after the conclusion of a criminal trial for some of his colleagues in the case. That trial will take place later this year.
https://cis.org/North/More-Settlements-Vermont-EB5-Case-and-Quiros-Wants-His-Passport-Back
