Vermont EB-5 Regional Center Shutdown (July 2018)

By July 12, 2018 News No Comments
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In the wake of a multimillion dollar kickback scandal between Jay Peak Resorts and immigration attorneys, the Vermont EB-5 Regional Center, the government office overseeing Jay Peak EB-5 projects, has been closed down. Jay Peak paid over 100 immigration attorneys $25,000 per each EB-5 investor brought into the Vermont Center. USCIS determined that the Vermont Center made multiple material misrepresentations about Jay Peak developments to foreign investors. Further, the state was warned in 2013 about possible illegal financial schemes yet the Vermont center did nothing. USCIS determined that closing the entire facility is the best decision moving forward. That being said, now over 800 foreign investors are left with serious questions regarding the future of their applications. The Jay Peak scandal may soon become an international incident.