SEC Says Bid To Toss $350M EB-5 Suit Built On Errors

Law360, New York (August 3, 2016, 6:17 PM EDT) -- The U.S. Securities and Exchange Commission Tuesday called a motion by Jay Peak ski resort owner Ariel Quiros for dismissal of claims he engaged in a $350 million fraud scheme targeting participants in the EB-5 immigrant investor program a collection of incorrect legal assertions.

The SEC argued Quiros' claims that the fraud allegations are time-barred and not specific enough "demonstrate a vast misunderstanding or erroneous assertions of what the law requires."

"Defendant Ariel Quiros' Motion to Dismiss is meritless — nothing more than a mix of incorrect legal assertions about the pleading standards Plaintiff Securities and Exchange Commission must satisfy and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!