State official says Quiros’ guilt ‘beyond doubt’ in EB-5 biomedical fraud

With Ariel Quiros pleading guilty to defrauding 169 EB-5 investors in a Vermont biomedical investment, the commissioner of the Department of Financial Regulation comments: “Mr. Quiros’ guilt was beyond a doubt. Our department’s 10-month investigation traced every penny of investor money and determined that much of it had inappropriately been funneled to support Mr Quiros’ lavish lifestyle.” Even Governor Phil Scott admitted, “maybe we all knew that he was guilty.”Read the VTDigger story