{"id":4843,"date":"2018-02-07T23:04:04","date_gmt":"2018-02-08T05:04:04","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4843"},"modified":"2022-09-19T10:40:25","modified_gmt":"2022-09-19T15:40:25","slug":"securities-fraud-cases-businessman-accused-jay-peak-resort-related-investment-scheme-must-pay-back-81m-investor-money-former-state-street-vp-faces-another-criminal-charge-lawyer-ple","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cases-businessman-accused-jay-peak-resort-related-investment-scheme-must-pay-back-81m-investor-money-former-state-street-vp-faces-another-criminal-charge-lawyer-ple\/","title":{"rendered":"Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam"},"content":{"rendered":"<h2><strong>Businessman Settles SEC Case Over Immigrant Visa-Related Investor Scam <\/strong><\/h2>\n<p>Ariel Quiros, a businessman accused of <a href=\"https:\/\/www.stockbroker-fraud.com\">defrauding foreign investors<\/a> seeking to earn US residency through the EB-5 Immigrant Investor Program, has agreed to the settle the Securities and Exchange Commission\u2019s case against him. As part of the settlement, which a court still has to approve, Quiros will be held liable for over $81M in disgorgement of ill-gotten gains and a $1M penalty. He also has to forfeit about $417K.<\/p>\n<p>Over 700 investors from at least 75 nations invested with Quiros. Their funds were supposed to go toward &#8220;construction projects at the Jay Peak Resort and a proposed (nearby) biomedical research facility,&#8221; said the SEC. Instead, contends the regulator, Quiros misused over $50M to buy another ski resort and pay for his own spending, including the purchase of two luxury condos. He also failed to direct about $30M to the construction projects, which was necessary for these investors to become US residents.<\/p>\n<p>Now, Quiros must give up the two condos and the resort that he bought using investors\u2019 funds, as well as surrender his ownership stake in Jay Peak and many other properties.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cases-businessman-accused-jay-peak-resort-related-investment-scheme-must-pay-back-81m-investor-money-former-state-street-vp-faces-another-criminal-charge-lawyer-ple\/#more-4843\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businessman Settles SEC Case Over Immigrant Visa-Related Investor Scam Ariel Quiros, a businessman accused of defrauding foreign investors seeking to earn US residency through the EB-5 Immigrant Investor Program, has agreed to the settle the Securities and Exchange Commission\u2019s case against him. As part of the settlement, which a court still has to approve, Quiros [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3977,3801,3741],"tags":[2793,2962,2963],"class_list":["post-4843","post","type-post","status-publish","format-standard","hentry","category-pump-and-dump-scams","category-sec","category-securities-fraud","tag-jay-peak-resort","tag-securities-fraud-cases","tag-stock-scam"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"Read About These Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cases-businessman-accused-jay-peak-resort-related-investment-scheme-must-pay-back-81m-investor-money-former-state-street-vp-faces-another-criminal-charge-lawyer-ple\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"Read About These Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam | SSEK Law Firm Blog","description":"Read About These Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cases-businessman-accused-jay-peak-resort-related-investment-scheme-must-pay-back-81m-investor-money-former-state-street-vp-faces-another-criminal-charge-lawyer-ple\/","twitter_card":"summary_large_image","twitter_title":"Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam | SSEK Law Firm Blog","twitter_description":"Read About These Securities Fraud Cases: Businessman Accused in Jay Peak Resort-Related Investment Scheme Must Pay Back Over $81M in Investor Money, Former State Street VP Faces Another Criminal Charge, and Lawyer Pleads Guilty in $20M Stock Scam.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; 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