Foreign investors in Jay Peak sue over stalled residency petitions

Local News
VT Officials- Jay Peak to Remain Open_84054454-159532

Foreigners who invested in Jay Peak and Burke Mountain projects that are now linked to alleged fraud say the federal government is declining to act on their petitions for U.S. residency.

The 74 investors bankrolled $500,000 each on the projects through a visa program with hopes of getting permanent residency if the developments created jobs.

The lawsuit filed Friday in Florida accuses U.S. Citizenship and Immigration Services of leaving their residency petitions in limbo. The agency declined comment.

Ariel Quiros, the former owner of Jay Peak and Burke Mountain, and former Jay Peak president William Stenger are accused of misusing more than $200 million raised from foreign investors.

They have reached settlements. They’ve also have pleaded not guilty to federal charges in a failed plan to build a biotechnology plant using foreigners’ money.

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