Federal regulators and the attorney for Jay Peak developer Ariel Quiros have failed to reach agreement on how much he should pay in penalties and damages in the largest EB-5 investor fraud case in the history of the program.
Attorneys for the two parties have previously discussed numbers that are far apart.
Lawyers for the U.S. Securities and Exchange Commission once pegged the figure at as high as $191.8 million. Counsel for Quiros, a Miami businessman and Vermont ski mogul, has said that number is much closer to zero.
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