Ariel Quiros is hitting back.
The Miami businessman at the heart of the Jay Peal/Burke Mountain EB-5 scandal wants a lawsuit filed by the state of Vermont against him and his EB 5 partner Bill Stenger thrown out saying it lacks substance and is legally flawed.
Quiros and Stenger are both the subject of a federal complaint filed earlier this year by the Securities and Exchange Commission (SEC) alleging misuse of EB 5 investor funds used to develop Jay Peak, Burke Mountain and other Northeast Kingdom Properties.
The state of Vermont filed a similar complaint in Washington Superior Court.
Now Quiros has filed a motion to dismiss the state case through his attorney Ritchie E. Berger of Burlington.
“The state unveiled this lawsuit amidst great fanfare, casting it as a significant securities-enforcement case. It is not,” wrote Berger in his motion filed on July 1. “While the state’s characterization of the litigation may have made for good sound bites in the news the actual allegations of the complaint tell a very different and less sensational story.”
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