Two days into a scheduled 10-day trial, the State of Vermont has settled with eight defrauded Jay Peak investors. The investors sued the state, claiming negligence in supervising multiple projects that ended up being the largest fraud in EB-5 history. Former Governor Peter Shumlin and other state officials were expected to testify. The settlement amount was not disclosed, but discussions are ongoing for a potentially larger settlement involving several hundred other EB-5 investors.
Read the VTDigger story