Feds order Vermont to shutter EB-5 Center

Published: Jul. 9, 2018 at 6:19 PM EDT
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The state of Vermont has been ordered to shut down the organization that oversees the EB-5 investment program in the state.

The federal government first warned the state a year ago it planned to terminate the operation following allegations of fraud related to the big EB-5 projects at Jay Peak.

Gov. Phil Scott, R-Vermont, asked for a gradual winding down of the Vermont center, but in a decision issued last week, the U.S. Citizenship and Immigration Services ordered an immediate termination.

The state plans to appeal that decision.