Ariel Quiros

What the public record shows

Ariel Quiros, former owner of Vermont’s Jay Peak Resort, pleaded guilty in August 2020 to a wire-fraud conspiracy, money laundering, and concealing material facts from U.S. Citizenship and Immigration Services. He was sentenced to 60 months (5 years) in prison with $8.3 million in restitution. This is a criminal conviction — not an allegation.

The scheme — EB-5 immigration-investment fraud

The EB-5 program lets foreign nationals pursue U.S. green cards by investing in job-creating projects. According to the DOJ:

• The AnC Vermont project was pitched to raise $110 million from 220 immigrant investors to build a biotechnology facility in Newport, Vermont.
• From 2012 to 2016, the defendants took in about $85 million from ~169 investors (plus ~$8 million in “administrative fees”).
• The facility was never built — Chief Judge Geoffrey Crawford called the project a “ghost” — and Quiros diverted investor funds, including using a loan collateralized with investor money to pay a personal tax bill.

Victims risked not just their money but their immigration status.

Why we rate this 1 / 10 — Avoid

A guilty plea and a five-year sentence in one of the most notorious EB-5 frauds — a program whose fraud risk regulators (SEC and NASAA) have repeatedly warned about.

How to reduce EB-5 fraud risk

• Treat the EB-5 investment as a real investment, not just an immigration fee — demand audited financials and independent escrow.
• Verify the regional center’s status and track record, and whether project funds are segregated.
• Check the promoters and offering with the SEC; EB-5 interests are usually securities.

Bottom line

Convicted and sentenced. An EB-5 “project” is still an investment — if you can’t verify the money is escrowed and the project is real, your green card and your savings are both at risk.

← Back to all reviews