Criminal charges expected this week in Jay Peak EB-5 fraud

A press conference is set for Wednesday in Newport, where federal criminal charges are expected to be announced against Jay Peak developers Ariel Quiros and Bill Stenger in connection with the largest fraud case in the history of Vermont.

U.S. Attorney Christina Nolan’s office sent out a notice early Tuesday afternoon announcing the press conference set for 2 p.m. in downtown Newport.

According to that notice, Nolan “will announce charges related to a major criminal fraud case,” though it doesn’t specify which case.

Nolan was not available Tuesday to comment, according to Kraig LaPorte, a spokesperson for the U.S. Attorney’s Office in Vermont. LaPorte declined comment when asked for further details.

According to a source with knowledge of the federal probe, criminal charges against both Quiros and Stenger are expected to be announced at that press conference Wednesday in Newport. The source did not know the specific charges expected to be filed, and added that other individuals may also be indicted.

Read more: https://vtdigger.org/2019/05/21/criminal-charges-expected-week-jay-peak-eb-5-fraud/