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Press Release

$150 Million Settlement Reached to Reimburse Jay Peak and Burke Mountain Creditors

April 13, 2017

Governor Phil Scott, Vermont Department of Financial Regulation (VDFR) Commissioner Michael Pieciak and Jay Peak Receiver Michael Goldberg today announced a record $150 million settlement agreement with financial firm Raymond James Financial, Inc., over its role in the alleged fraud relating to EB-5 projects in Vermont’s Northeast Kingdom.

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