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Jay Peak receiver settles for $1.75 million with bank accused of aiding historic EB-5 fraud

The Jay Peak receiver has reached a settlement with People’s United Bank, the institution alleged by some investors to have aided fraud mastermind Ariel Quiros in pulling off the biggest EB-5 biggest fraud ever. The bank denies wrongdoing and claims it is settling merely to avoid future litigation expenses and to bring closure to the long-standing matter. This latest settlement is just one of multiple settlements reached in the Jay Peak story, the largest being $150 million with Raymond James ||abc|| Associates.See VTDigger article

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