Investors Can Sue Vt. Agency Over Failed EB-5 Projects

Law360 (October 8, 2019, 7:00 PM EDT) -- A group of foreign investors who sunk capital into now-failed development projects may continue with their claims that a Vermont state agency failed to keep tabs on the projects as promised, adding to the pile of litigation over the Jay Peak projects' alleged EB-5 fraud scheme.

The Vermont Supreme Court  reversed part of a lower court's decision to toss the investors' lawsuit, which accused the Vermont Agency of Commerce and Community Development of deceiving investors to pay in to a project that misused their funds and squelched their plans to get green cards through the EB-5 immigrant investor program.

The justices...

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