Vermont Public is independent, community-supported media, serving Vermont with trusted, relevant and essential information. We share stories that bring people together, from every corner of our region. New to Vermont Public? Start here.

© 2024 Vermont Public | 365 Troy Ave. Colchester, VT 05446

Public Files:
WVTI · WOXM · WVBA · WVNK · WVTQ · WVTX
WVPR · WRVT · WOXR · WNCH · WVPA
WVPS · WVXR · WETK · WVTB · WVER
WVER-FM · WVLR-FM · WBTN-FM

For assistance accessing our public files, please contact hello@vermontpublic.org or call 802-655-9451.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Explore our coverage of government and politics.

Vermont Finance Commissioner Favors Gradual Closure Of EB-5 Center

Michael Pieciak
Hilary Niles
/
For VPR
Michael Pieciak, Vermont's Commissioner of Financial Regulation, authored the report recommending the "winding down" of the Vermont Regional Center.

On August 21, Gov. Phil Scott's administration announced plans to wind down the state's EB-5 regional center.

That's the office that oversees a federal program meant to spur economic activity by getting non-U.S. citizens to invest in development projects, in exchange for a U.S. Green Card.

At the same time, federal immigration officials told the state this month they intend to immediately shut down the Vermont Regional Center. This all comes after allegations of massive fraud at Jay Peak resort involving the EB-5 program.

Michael Pieciak, Vermont's Commissioner of Financial Regulation, authored the report recommending the "winding down" of the Vermont Regional Center.

Pieciak spoke to VPR's Henry Epp. Listen to their conversation above.

Annie Russell was VPR's Deputy News Director. She came to VPR from NPR's Weekends on All Things Considered and WNYC's On The Media. She is a graduate of Columbia Journalism School.
Henry worked for Vermont Public as a reporter from 2017 to 2023.
Latest Stories