How do I receive updates about this case?
This website will be updated as the litigationand document disclosure progress. You may also check the Attorney General’s website.
Is the lawsuit in federal court in Miami, FL, brought by the U.S. Securities and Exchange Commission (SEC) the same as the State’s case filed in Montpelier, VT?
Vermont and the SEC have brought separate but coordinated actions under state and federal laws.
What is a “receiver” and has one been appointed in this case?
The federal court has appointed a receiver to oversee and administer the assets of the EB-5 projects named in the SEC’s complaint. The receiver will act as a neutral party to preserve and recover assets and property at issue while the federal and state cases are pending, as ordered by the courts. Ultimately, the receiver will determine the amounts owed to individual creditors and investors, and will distribute available assets in accordance with a court order.
Please see the Jay Peak receiver's website, for more information.