SEC Files Fraud Charges Against Vermont Regional Center

Categories: Blog abogado de inmigración de San Diego

The SEC announced that they filed charges and froze the assets of the various EB-5 projects connected with the Vermont Regional Center and its principals William Stenger and Ariel Quiros. Here is the SEC Press Release, that discusses the matter in more detail.

Obviously any investors considering an EB-5 investment in this Regional Center should be very wary of this project and consider other Regional Centers. Current investors that have I-829s approved, should be okay from an immigration standpoint, but it is unclear about how they will get their money back.

EB-5 investors that have an I-526 pending or approved, but do not yet have their I-829s approved, have to deal with both the financial and immigration uncertainty. If the money is being misdirected out of the project and not invested as promised, then all of the direct and indirect jobs are not being created, which is an essential part of obtaining an I-829 approval.

Hopefully, more information will be forthcoming in the months that follows as the SEC continues their investigations.