Ariel Quiros, center, leaves federal court in Burlington after being arraigned on charges pertaining to the EB-5 fraud case on Wednesday, May 22, 2019. The former owner of Jay Peak accused of defrauding foreign investors out of millions of ...
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Quiros seeks dismissal of criminal fraud case
Vermont Supreme Court Recognizes Exception to the Economic Loss Rule
Sutton v. Vermont Regional Center, 2019 VT 71 (Oct. 14, 2019) Despite its longstanding reputation as liberal and sympathetic to plaintiffs, the Vermont Supreme Court has for a very long time strictly enforced the Economic Loss Rule (prohibi...
Deadwood Mountain Grand up for sale
The Deadwood Mountain Grand, an entertainment and lodging resort overlooking the heart of downtown Deadwood, is up for sale, with an asking price of $27.5 million. The DMG, rebuilt from a former gold-mining slime plant and opened in 2011, f...
Delaware Valley Regional Center sets unique standard for EB-5 infrastructure investments
The Delaware Valley Regional Center (DVRC) is different from other regional centers around the nation because it focuses on infrastructure development rather than commercial real estate projects to bring about economic growth. And it does s...
Attorneys for EB-5 defendants may seek to delay October trial
The site on Bogner Drive in Newport where AnC Bio Vermont was planned but never built. Attorneys for the developers accused of fraud in a failed biomedical research facility project in the Northeast Kingdom may soon file a formal request t...
Money from Palm House sale finally disbursed to claimants under bankruptcy plan
Millions of dollars from the sale of the never-finished Palm House hotel-condominium in Palm Beach are finally being disbursed to claimants as part of a complex bankruptcy case involving foreign investors who lost money in the project. Near...
Navigating the new world of Target Employment Areas (TEAs)
Special guest is Michael Kester, partner, and lead economist of Impact DataSource, a Texas-based consulting firm that is a leader in EB-5. For the last nine years, Impact Datasource has conducted more than 450 EB-5 economic impact studies and ...
Former Lucky Dragon Las Vegas Reopens as Ahern Hotel, New Owner Not Betting on Gaming
The Lucky Dragon is no more. The ex-casino is now known as the Ahern Hotel. The failed Lucky Dragon off-Strip casino resort that cost $165 million to construct but shuttered less than two years after its November 2016 opening is back and o...
EB5 Processing Time Updates for the I-526 Petition and I-829 Petition
USCIS has updated the EB5 processing time at the Immigrant Investor Program Office (IPO) for the I-526 Petition (Immigrant Petition by Alien Investor) as well as the I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status...
Kingdom Trail has $1M deal in the works to purchase 240-acre Quiros property
The property Kingdom Trail Association plans to buy on Darling Hill Road in East Burke, near the nonprofit’s winter center. The court-appointed receiver in charge of overseeing many of the real estate holdings of the indicted former owner ...
More EB-5 investors allege fraud at Jupiter development
Harbourside Place in Jupiter EB-5 developer Nick Mastroianni is facing another lawsuit from Chinese investors who poured money into the Harbourside Place project in Jupiter. Plaintiffs Ting Peng and Lin Fu, both Chinese-born EB-5 investo...
State funds could solve Newport courthouse woes
Vermont Superior Court in Newport. Concerns that Newport’s courthouses are too old and poorly designed for modern judicial work could be eased with state money. Last month, Gov. Phil Scott proposed bookmarking $1.5 million in the state ...
Quiros, Stenger, Kelly weigh being tried together, or separately, in EB-5 fraud case
The site on Bogner Drive in Newport where AnC Bio Vermont was planned but never built. The attorneys for the developers of a failed $110 million biomedical research center in Newport facing criminal charges say they need more time to consi...
USCIS Re-Prioritizes EB-5 I-526 Adjudication Based on Visa Number Availability: The Good, the Bad, and the Ugly
USCIS has been falling farther and farther behind on adjudication of EB-5 filings. Last week USCIS suddenly announced that, starting March 31, 2020, it will adjudicate first I-526 petitions from investors for whom a visa number will be immedia...
Some EB-5 Investors Could Soon See Quicker I-526 Petition Approvals Thanks To New Process Change
USCIS has announced a new change for processing the I-526, Immigrant Petition by Alien Entrepreneurs. This may lead to quicker processing times and I-526 petition approvals for qualified investors from countries that have relatively fewer EB-5...