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Quiros to be sentenced Friday in Kingdom Con case

Published: Apr. 28, 2022 at 3:21 PM EDT
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BURLINGTON, Vt. (WCAX) - The Kingdom Con will come to a close Friday when alleged mastermind Ariel Quiros learns his fate for his part in the massive fraud scheme.

Prosecutors say $450 million was raised from out-of-state investors through the EB-5 program. It was supposed to go to economic development projects like AnC Bio and a conference center and hotel in Newport, but they were never built. That’s because $200 million was misspent covering expenses for other projects and Quiros pocketed $50 million for himself.

Last year, Quiros pleaded guilty to wire fraud and money laundering.

His two co-conspirators, William Kelly and former Jay Peak president Bill Stenger, were recently sentenced and got 18 months each.

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