State releases 443,000 pages of records related to EB-5 fraud [View all]
The state of Vermont released Thursday 443,000 documents in the Jay Peak Resort fraud case.
The documents were made available on the Department of Financial Regulation’s website. It is unknown at this juncture just what has been released as each of the 21 batches of zip folders on the website is so large that downloads take an hour or more. None of the folders are labeled and no index is provided. The records in batch 1D3, for example, consist of bills and reports from DEW Construction for the Stateside Hotel and other projects, images of plumbing fixtures and architectural specifications.
The Department of Financial Regulation, which regulates securities, took over the oversight of Jay Peak and other EB-5 projects in January 2015.
The Vermont EB-5 Regional Center, part of the state commerce agency, was originally responsible for administering, managing and overseeing the Jay Peak projects from 2006 to 2014. The former director of the Vermont EB-5 Regional Center, Brent Raymond, has said in a deposition that state officials were aware in 2012 of financial improprieties, but did nothing to stop the fraud.
Read more: https://vtdigger.org/2019/03/28/state-releases-443000-pages-records-related-eb-5-fraud/
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