Vermont Attorney General William Sorrell speaks Thursday about alleged fraud in a string of development projects in the Northeast Kingdom funded with immigrant investors’ money. Looking on is Gov. Peter Shumlin.
VTDigger is suing the state of Vermont in order to obtain records associated with oversight of the state’s EB-5 immigrant investment program.
The news organization alleges the Shumlin administration has improperly withheld documents, including correspondence between key members of the administration and federal officials about the status of the Vermont EB-5 Regional Center.
Officials with the Agency of Commerce and Community Development have refused to release correspondence about a federal review of the Vermont EB-5 Regional Center, which was responsible for overseeing a massive redevelopment of Jay Peak that has been tied to an alleged “Ponzi-like” scheme perpetrated by the developers.
It is not known what the federal review by the U.S. Citizenship and Immigration Services entails because the government agency won’t respond to questions about it and the state has also kept mum. The USCIS review is separate from the Securities and Exchange Commission investigation of fraud at Jay Peak.