SEC Gets Injunction Against Ski Resort And CEO In EB-5 Suit

Law360, Los Angeles (April 21, 2016, 8:17 PM EDT) -- A Florida federal judge Thursday barred a Vermont ski resort CEO, who the U.S. Securities and Exchange Commission is accusing of helping misappropriate $350 million in investments obtained under the EB-5 immigrant investor program, from committing securities violations, amid a fight by the resort’s owner over a $200 million asset freeze.

U.S. District Judge Darrin P. Gayles granted an unopposed motion for a preliminary injunction against Jay Peak Inc. CEO William Stenger, enjoining him from violating securities laws or participating in the EB-5 program, which rewards job-creating investments in the U.S.

In a separate order, the judge also enjoined Jay Peak...

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Florida Southern

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Securities/Commodities

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April 12, 2016

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