Chinese Investors Drop Suit Against Jay Peak Developers And State Of Vermont
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The attorneys for two Chinese citizens who claimed they were defrauded when they invested in the EB-5 funded Q Burke Resort project in the the Northeast Kingdom have abruptly dropped their lawsuit.
In addition to suing the project developers and the state Department of Financial Regulation, the brother and sister accused an attorney, Charles Leamy, of pitching them an investment in the project, and then collecting a $20,000 retainer to represent them as their immigration attorney.
Judge Robert Mello announced news of the “voluntary dismissal” of the case at the start of a hearing Friday in Chittenden Superior Court in Burlington.
“I’m not in a position to comment,” attorney Pietro Lynn, who represents Minggan Wei and his sister, Zhoa Wei, said after the hearing. “I can’t speculate as to why. I simply received instructions to file a notice of dismissal without prejudice.”
The pair claimed in the lawsuit they were out more than $1 million for the investment in exchange for permanent U.S.residency through the federal EB-5 immigration program.
“The clients are reserving their rights to pursue claims in other forums or through the receiver,” Lynn added. “That’s entirely within their prerogative.”