In a Beijing ballroom, Kushner family pushes $500,000 investor visa to wealthy Chinese

[pnwmom]

5. This is the EB-5 immigrant investor visa that was associated with the Vermont ponzi scheme.

https://vtdigger.org/2017/04/26/quiros-takes-new-approach-eb-5-case-cooperate/

Federal and state lawsuits say Quiros, along with Bill Stenger, Jay Peak’s former president, ran a “Ponzi-like” scheme to defraud EB-5 immigrant investors in a series of massive developments at Jay Peak as well as other projects in Burke and Newport.

In the EB-5 program, foreign investors put up $500,000, plus a $50,000 administrative fee, into qualified projects. If that investment leads to the creation of 10 American jobs, the investor becomes eligible for permanent U.S. residency.

Stenger and Quiros, according to filings, misused $200 million of those investors funds, with Quiros allegedly “looting” more than $50 million to pay personal expenses, from taxes to a luxury New York City hotel.

Stenger reached a plea agreement in the federal investor fraud lawsuit. Both men still face a state investment fraud lawsuit as well as other legal actions from investors who allege they were defrauded.