Plaintiffs In 2 States Drop EB-5 Scam Suits Over Jay Peak

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Law360, New York (July 27, 2016, 10:29 PM ET) — Two proposed class action suits claiming Raymond James & Associates was involved in a fraudulent scheme targeting EB-5 investors in Vermont’s Jay Peak ski resort were voluntarily dismissed without prejudice by the plaintiffs in the Green Mountain State and Florida in the last week.

On Wednesday, Carlos Enrique Hiller Sanchez dropped his attempt in Florida federal court to recover funds from the brokerage firm and fund manager Joel Burstein for alleged violations of the Securities Exchange Act of 1934, fraud and a fiduciary breach through their…

Source: Law360