Statement of Commissioner Michael S. Pieciak on the Guilty Plea of Ariel Quiros

14 August 2020

Montpelier, VT – Today, Ariel Quiros pled guilty in U.S. District to wire fraud, money laundering and the concealment of material information related to the EB-5 projects in the Northeast Kingdom.

Commissioner Michael S. Pieciak issued the following statement: 

“Mr. Quiros’ guilt was beyond doubt. Our department’s ten-month investigation traced every penny of investor money and determined that much of it had inappropriately been funneled to support Mr. Quiros’ lavish lifestyle.”

“I am pleased Mr. Quiros is now accepting that reality and is taking responsibility for his actions.”

“The fraud in the Northeast Kingdom caused significant harm to the community, and although a guilty plea will not undo that harm, it will help the community heal and continue to move forward.”

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