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In reply to the discussion: Sanders reopens Dem primary wounds [View all]pnwmom
(108,977 posts)Bernie supported the EB-5 visas. He wouldn't have had to be guilty of anything -- all they would have had to do is let it be known that they were checking it out. Hillary wasn't guilty of anything but they were able to smear her. They could have done the same to Bernie.
http://www.forbes.com/sites/antoinegara/2016/04/14/how-an-alleged-ski-resort-ponzi-scheme-exploited-a-growth-plan-once-championed-by-bernie-sanders/#57b49126b172
The most popular sport in America is complaining about the federal government. What you are seeing here is a marriage and partnership between private business and federal, state and local government. Those were Vermont Senator Bernie Sanders words in October 2012 when it came to a once-glittering economic development plan to revive the northeast part of his state.
A bi-partisan partnership between private business and federal, state and local government to be sure, but also allegedly a sophisticated multi-million dollar Ponzi scheme, according to a 52-count complaint unsealed Thursday by the Securities and Exchange Commission.
The alleged Ponzi scheme ties an EB-5 investor program championed by Jay Peak Ski Resort, a popular 78-trail mountain in Vermonts Northeast Kingdom, which raised over $350 million from foreign investors to expand its facilities and create local jobs. The EB-5 program, supported by the State of Vermont and both of its Senators, Bernie Sanders and Patrick Leahy, offered foreigners the opportunity to invest between $500,000 to $1 million in developments that projected returns of 2% to 6% and a pathway to U.S. citizenship within two years.
Now, however, the SEC says more than $200 million was misappropriated by the owners of Jay Peak, Ariel Quiros and William Stenger, in a Ponzi-like fashion.