Tony Sutton, the British car dealer who pieced together suspicions about Jay Peak’s immigrant-funded EB-5 developments, says he was disappointed with the state's response to the information he provided to regulators months before they took act...
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State Officials Investigated Jay Peak Investors' EB-5 Concerns, But Didn't Inform Them
Peak Resorts reports wider quarterly loss
Peak Resorts Inc., the Wildwood-based owner and operator of ski resorts, reported a fiscal 2017 first-quarter loss of $7.9 million, wider than the nearly $7.1 million loss it reported in the same period last year. Revenue for the recent qua...
Farber: EB-5 inside man
It is fascinating, in a way, to speculate on the Ponzi scheme perpetuated by Bill Stenger and Ariel Quiros with the EB-5 Program that was first started in 2008. It is apparent that the scheme was first set in motion during the time of forme...
Deadlock threatens foreign investor visas
Billions of investment dollars are on the line as members of Congress seek to bridge their differences and save a visa program that is set to expire in October. Riddled with controversy and fraud, the rapidly expanding -EB-5 investor visa p...
EB-5 Fallout: Stenger Not Protected From Penalty, Criminal Liability in SEC Settlement
Bill Stenger’s settlement with the federal Securities Exchange Commission (SEC), filed in U.S. District Court in Miami, Fla., on Thursday, makes clear he may still face a civil penalty and the agreement does not protect him from possible crimi...
EB-5 Immigrant Investor Program – direct investment vs. regional center investment
UNDER the EB-5 Immigrant Investor Program, foreign investors can apply for a green card if they 1) invest in a company in the United States and 2) plan to create ten permanent full-time jobs for qualified U.S. workers. There are two options fo...
EB-5 ScandalBill Stenger Cuts Deal With SEC
Bill Stenger, CEO of Jay Peak Resort, announced late Thursday that he reached a settlement with the U.S. Securities and Exchange Commission over the EB-5 foreign investment fraud and Ponzi scheme case against him and his partner, Ariel Quiros....
Bill Stenger Settles With SEC In Massive EB-5 Fraud Case
Bill Stenger, one of two partners in an alleged fraud of foreign investors in Northeast Kingdom development projects, has settled with the federal Securities and Exchange Commission, according to court documents. Stenger, the former preside...
Possible priority date movement in employment-based immigrant visa categories in October 2016
The Department of State issues a visa bulletin each month to inform the public of the priority dates which will be effective for various immigrant visa (ie, US Green Card) preference categories.(1) Each foreign national sponsored for an immigr...
Financial Deadline Extended for NYC Super Tower
Efforts to secure financing on what is being planned as the Western Hemisphere’s tallest and most expensive residential tower have been quietly extended. According to a Bloomberg report, Extell Development Company has pushed back its deadli...
Company linked to Beninati files for bankruptcy in Connecticut
A new bankruptcy filing logged in Connecticut may provide a window into just how cash-strapped embattled developer Joseph Beninati has truly become. A Connecticut entity linked to Beninati and his wife Rhonda Beninati has filed for Chapter ...
Editorial: Saying Something, Saying Nothing
The Burlington Free Press reported last week that “Vermont’s commerce secretary has released the resignation letter for Gene Fullam, the former director of the state’s EB-5 investment program after concluding the letter was improperly withheld...
Delays expected with the new Gulfport Harbor Casino
A new Gulfport Harbor Casino that is planned within the state of Mississippi could be delayed if developers have a recent request approved. The developers want to see the project delayed by two months from their timeline. A final meeting with ...
Dallas' Statler Hotel sells city's incentives in unheard of bond offering
Developers who are redoing one of downtown Dallas' largest buildings have sold the promised city financial incentives for the project. Commerce Statler Development LLC — the company created by developer Mehrdad Moayedi to redevelop the land...
Residency bait for dollar chase
The cabinet today approved a proposal to offer residency permits up to 20 years to foreigners willing to invest a minimum amount in the country, emulating a model followed in the US, Singapore and Britain. According to the plan, foreign inv...