Jay Peak Owner Slams SEC’s ‘Bluster’ In EB-5 Fraud Case

Law360, New York (September 6, 2016, 4:01 PM ET) — Jay Peak Resort owner Ariel Quiros shot back Friday at the Securities and Exchange Commission in its fraud case over an alleged $350 million scheme involving the Vermont resort and its EB-5 immigrant investor program, arguing the SEC’s “straw man” claims are time-barred and without substance.

The statute of limitations bars most of the SEC’s claims, and the agency fails to show that Quiros was personally involved in the scheme’s securities sales, Miami-based businessman Quiros told a Florida federal court in a reply defending his motion…

Source: Law360