Friday, August 7, 2020 6:07 PM EST
By The Associated Press, AP
BURLINGTON, Vt. (AP) — The Miami businessman accused of being the mastermind behind a massive fraud case involving foreign investors' money in Vermont developments is expected to plead guilty next week in a plea deal in which prosecutors are seeking a sentence of more than eight years in prison. The Caledonian Record reports that Ariel Quiros, the former owner of Jay Peak and Burke Mountain ski resorts in northern Vermont, has signed a plea agreement admitting a conspiracy to commit wire fraud, money laundering and the concealment of material information, according to U.S. District Court records. Quiros and three others were indicted over a failed plan to build a biotechnology plant in Newport using $200 million in foreign investors’ money through the EB-5 visa program.