Jay Peak Receiver Eyes Changes To EB-5's Fraud Provisions

Law360, Minneapolis (April 17, 2017, 8:26 PM EDT) -- The EB-5 investor-visa program saw its largest-ever settlement last week — $150 million in the Jay Peak ski resort case — and the receiver for that matter, Akerman LLP's Michael Goldberg, told Law360 in a wide-ranging interview he's hoping Congress will change the program to provide more relief to victims of fraud.

Goldberg, who has helped draft proposed changes to EB-5, said one of the major problems with the current program is that it forges too strong of a link between the investor and the developer,...
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