Vermont releases documents related to EB-5 Kingdom Con

Published: Mar. 28, 2019 at 4:11 PM EDT
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The Scott administration has released more than 430,000 pages of documents related to the EB-5 Kingdom Con Scandal.

Gov. Phil Scott ordered the release of documents in March 2017 related to the fraud committed by Ariel Quiros and Bill Stenger. After settlements were reached the state began the long process of reviewing the documents to remove personal information.

State officials began investigating fraud at Jay Peak in 2014. In April 2016, the federal Securities and Exchange Commission and the state charged Quiros and Stenger with 52 counts of fraud for misusing $200 million in foreign investor funds.

Scott says he's happy documents in the case are becoming public. "It's a long time in coming and from my standpoint it should have happened before now. I'm happy that we're beginning and look forward to the rest of the documents," Scott said. "I think it's just important to establish faith, reestablish faith and trust in government to show some of the areas where you can do better."

State officials say another 250,000 pages of records will be released in the coming weeks.