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Vermont’s Kingdom Con fraud settlement sounds like a con too: lawyers get $5.5 million, many EB-5 investors to get only $1,000 each

Details are known of an agreement that intends to settle all pending and potential lawsuits against the state of Vermont by about 850 investors defrauded in several EB-5 investment projects that included Jay Peak. If the agreement is approved, of the $16.5 million in settlement funds, $5.5 million will go to the Barr law firm representing more than 60 investors. Three investors who did not receive Green Cards will receive $75,000, and five investors who did receive Green Cards will receive $25,000. The other 55 investors in the lawsuit, will receive either $5,000 if they did not receive Green Cards, or just $1,000 if they did receive Green Cards. The balance of the settlement funds will then be used for the benefit of “all Investors and the plaintiffs in the Barr Actions.” If the remaining settlement amount equals $10,000,000 and is divided equally among the remaining 790 investors, each investor would only receive under $13,000 each.

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