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State drops charges against 4th man involved in $93 million Vermont EB-5 fraud

EB-5 News

Vermont has dropped 10 felony charges against Alex Choi, the fourth defendant in the AnC Bio EB-5 fraud case. While the government believes Choi to be a “hidden” partner in the fraud that collected $93 million from 85 investors for a biotech facility that was never built, the prosecution was unable to obtain crucial evidence against Choi, who has been on the run since 2019. Ariel Quiros the developer, has started a five-year prison sentence; the other two defendants, William Stenger and Bill Kelly, have both begun 18-month sentences.

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