State drops charges against Alex Choi, fourth man in EB-5 fraud case
by Mike Donoghue, Correspondent, Vermont Business Magazine The United States Attorney's Office in Vermont has decided to drop 10 felony charges against the fourth defendant in the EB-5 criminal fraud case in the Northeast Kingdom. Jong Weon Choi, also known as Alex Choi of South Korea, has remained on the run since he was indicted in Vermont with three American business colleagues in May 2019. Newport businessman Bill Stenger, the former president of Jay Peak resort, has begun an 18-month federal prison sentence in Devens, MA. The mastermind of the EB-fraud scheme in Vermont, former Miami businessman Ariel Quiros, and the former owner of Jay Peak has been sentenced to five years in prison. William Kelly, a Quiros business partner, has been sentenced to 18 months in prison.