SEC Nears Deal With Jay Peak Owner In $350M EB-5 Suit

Law360, Miami (November 16, 2017, 7:26 PM EST) -- The U.S. Securities and Exchange Commission indicated Thursday that it is close to a settlement with Jay Peak ski resort owner Ariel Quiros in its suit against him over his role in a $350 million EB-5 visa fraud suit.

The SEC asked for the court to stay all deadlines for 90 days to allow the SEC's commissioners to consider a proposed settlement that would resolve all of the agency's claims against Quiros, who has already agreed to be subject to a permanent injunction banning him from participating in the EB-5 immigrant investment program in any capacity.

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