$85 millionput into a Vermont EB-5 biotech plant that was never built
About 169 investors put roughly $85 million into a Vermont EB-5 biotechnology project that was never built, and its owner was sentenced to 60 months in prison.
About $8 million more was paid in administrative fees. The owner pleaded guilty to conspiracy to commit wire fraud, money laundering and concealing material facts from USCIS.
Source: Internal Revenue Service, Criminal Investigation. Read more: eb 5 immigrant investor fraud · case file