Law360, New York (May 18, 2016, 3:48 PM EDT) -- EB-5 investors slapped the owner of a Vermont ski resort and its financial adviser, Raymond James Financial Inc., with a proposed class action in federal court Tuesday, looking to recover investments in an alleged development scheme that saw $200 million misappropriated.Three foreign investors are suing Jay Peak ski resort owner Ariel Quiros and CEO William Stenger over an alleged eight-year investment scheme that raised $350 million from people looking to obtain green cards through the EB-5 immigrant investor program.The pair conspired with Raymond James to misuse the bulk of those funds, which were supposed to be earmarked for job-creating... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
The owner of Vermont - based Jay Peak ski resort , bill Quiros and its financial adviser , Raymond James Financial have been hit with a proposed class action by EB-5 investors who are seeking to make investments in an alleged development scheme that involves $ 200 m ##w .