Elected officials in Vermont at both the state and federal levels will not have to take the stand and explain their part in a years-long multi-million-dollar Ponzi scheme to defraud foreign investors. The state has settled out of court.
The Vermont state government is trying to sweep its EB-5 Ponzi-like scheme under the rug.
Just days before the state was devastated by continuous rainstorms, we were informed that the civil lawsuit against the state by eight EB-5 investors had been settled “out of court.” The storm’s statewide destruction moved the settlement entirely off the radar screen, possibly, forever.
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Several of Vermont’s most senior political members — some now retired, and some senior state officials — may rest easy. They will not be called to testify about what would cause the U.S. Citizenship & Immigration Services to close down a state agency.
Then Governor Peter Shumlin and Vermont’s members of Congress all have ties to a development plan in Newport, Vermont, that used the government’s EB-5 program to swindle millions for foreign investors. But it wasn’t just a cash-for-green cards scheme. Vast sums of public money were redirected in the name of the swindle. The Newport Resort would need access, and crafty pols used theirs to spend your money on infrastructure.
If you missed it, back in early 2016, we reported on the funneling of millions of dollars, laundered through the Feds, to “projects” in Newport, Vermont.
From 2014 through 2015, over 17 million dollars was awarded by the FAA and DOT to remodel the airport serving the tiny town and the 4600 residents. It caught our attention (see Les Otten and the Balsams Boondoggle), introducing us to Bill Stenger and Ariel Quiros. ..
Senators Sanders (I) and Leahy (D), and Congressman Welch [sold it as] Expansions “that will bring people for business, tourist and recreation opportunities throughout the region.”
They were very excited to announce all those funds secured for the runway and then a taxiway expansion(s) to this local airfield.
Leahy also personally complained to a Senate Committee about delays with the EB-5 program (being used to support the Ponzi scheme).
All while the project developers were giving campaign donations to these political allies.
Newport, Vermont resident Bill Stenger has his fingers in all these pies, and like any good “developer” has invested his fair share of dollars on the local crop of politicians. He gave $4000.00 to the campaign of the current governor, Peter Shumlin, and his resort project, Jay Peak, shows a $2000.00 donation to Shumlin in 2012.
He gave Patrick Leahy $4800.00 dollars in 2010
Peter Welch got $1000.00 dollars in 2014.
Ariel Quiros gave $2000.00 directly to Shumlin, $14,000.00 to the VT Democrat Party, and another $12,000.00 to the Vermont State Democrat Federal Campaign Committee- which funnels donations to support the campaigns of Vermont’s…Senators and Congresspersons.
And Q Burke Mountain Resort gave Shumlin $2K in 2014.
And according to this report, the same Jay Peak developers have donated a total of least 71,900.00 dollars to Vermont Democrats since 2011.
It looks like the Vermont Democrat party, the governor, a congressman, and two Democrat US senators were getting “paid” to support the schemes, but none of them will have to testify or explain what they knew and when they knew it.
In the end, over 800 foreign investors were swindled. An out-of-court settlement returns over 16 million to them, and while the summation of the civil suit hints at releasing close to 40,000 pages of documents related to the Ponzi scheme, does anyone expect to see proof of complicity between Vermont Democrats, corrupt developers, and the deliberate fraud perpetrated on the investors and US taxpayers?
I’m not holding my breath.
