Raymond James Wants Jay Peak EB-5 Claims Nixed

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Law360, New York (September 20, 2016, 6:57 PM EDT) — Raymond James & Associates Inc. asked a Florida federal court Monday to toss class claims over projects involving the Jay Peak ski resort and EB-5 visa program, saying the suing investors did not plead that the company actually knew the projects were a “front for a Ponzi scheme.”

Financial services company Raymond James argued in a dismissal motion Monday that the EB-5 investors failed to plead that it had “actual knowledge” of Jay Peak’s really being “a front” for the alleged scam to misappropriate over $200…

Source: Law360