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At mountain resort, it’s downhill for foreign investors
A project to turn a depressed Vermont ski slope into a bustling year-round resort has become a cautionary tale for foreign investors hoping to get U.S. green cards through the EB-5 cash-for-visas program. Economics correspondent Paul Solman reports on charges of massive fraud filed by the SEC against the developers of Jay Peak, who allegedly misused $200 million in investments.
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