Vermont’s Largest Fraud Case Reaches $16 Million Settlement

The State of Vermont, 64 individual plaintiffs who have sued the State, and the federal receiver for Jay Peak, Inc., et al., have reached an agreement to settle all pending and potential lawsuits against the State related to the eight Jay Peak EB-5 projects.

If approved by the court overseeing the Jay Peak receivership, the global settlement will resolve all pending and potential lawsuits against the State that have been brought or could be brought by the approximately 850 investors in the Jay Peak EB-5 projects.

To date, this includes 33 lawsuits by individual investors and a class action complaint filed on behalf of 121 investors.

Read more at NBC 5.