A federal judge has given final approval for a nearly $150 million settlement by the financial services firm linked to the largest fraud case in the federal EB-5 immigrant investment program’s history.
Raymond James & Associates Inc. agreed to pay the money to the court-appointed receiver now overseeing properties at the center of the case.
The payout settles claims over the firm’s alleged involvement in a “Ponzi-like” scheme to defraud investors in development projects at Jay Peak ski resort and other properties in Vermont’s Northeast Kingdom.
Raymond James admitted no wrongdoing.
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