Update on the EB-5 Program

On Wednesday, April 13, 2016, the Senate Judiciary Committee held its second EB-5 hearing of the year, "The Distortion of EB-5 Targeted Employment Areas: Time to End the Abuse." The day before, on April 12, 2016, the SEC filed a complaint against Jay Peak, its principals, and their controlled entities, alleging misuse of investment funds. The state of Vermont followed by filing a suit against the same defendants on April 14, 2016, for multiple violations of Vermont securities laws. For more information, the Vermont Department of Financial Regulation has compiled comprehensive information related to the Jay Peak litigation. The site contains Q&As for investors, as well as copies of the SEC and state of Vermont complaints. It is expected that this page will be updated as the litigation progresses.