AND WPTZ'S STEWART LEDBETTER HAS
DETAILS FROM THE NEWSROOM
TONIGH
>> THIS IS STUNNING COMPLAINT,
ALLEGING A COMPL PONZI LIKE
SCHEME BY THE RESORT OWNERS
INVOLVING MORE THAN $200 MILLION
OF OTHER PEOPLE'S MONEY.
>> THIS IS WHAT WE
ALLEGE FRAUD
LOOKS LIKE.
>> BANKING REGULATORS
SAYING THE
TEAM STARTED DIGGING OVER A YEAR
AGO, UNCOVERING A WEB OF
DIVERTED FUNDS PUSHED THROUGH
100 ACCOUNTS AT 16 DIFFERENT
BANKS.
THE LAWSUIT ACCUS
THE OWNERS
OF USING MONEY FROM FOREIGN
INVESTORS INTENDED FOR SPECIFIC
PROJECTS AND AVERTING THAT MONEY
TO ALL SORTS OF OTHER EXPENSES.
ONE ACCUSED OF SIPHONING OF
TO
$50 MILLION TO PAY OTHER DEBT,
EVEN BUYING A LUXURY CONDOMINIUM
AT TRUMP TOWER IN NEW YORK.
>> THE DEFENDANTS, IF FOUND
LIABLE, WILL FACE NO JAIL TIME
BUT COULD HOWEVER FACE
SUSTANTIAL FINANCIAL PENALTIES,
RESTRICTIONS ON FUTURE BUSINESS
ACTIVITES AND FORFEITURE OF ILL
GOTTEN GAINS.
>> THIS IS A DIFFICULT DAY FOR
THE HUNDREDS OF EMPLOYEES IN THE
NORTHEAST KINGDOM W RELY ON
THE RELATED PROJECTS TO SUPPORT
THEIR FAMILIES, PROJECTS THAT
APPEARED TO HOLD SO MUCH
PROMISE.
I COMMITMENT AS GOVERNOR IS TO
DO EVERYTHING THAT I CAN TO
PROTEC THESE JOBS AND THE
INVESTORS FOR THE VICTIMS.
>> TONIGHT THEY HAVE HAD THEIR
ACCOUNTS FROZEN BY THE FEC
AND A
FEDERAL APPOINTEE IS NOW
MANAGING BOTH RESORTS.
HOPING TO KEEP BOTH OPEN AND
EMPLOYEES THERE WORKING.
THE GOVERNOR SAYING HE DOES NOT
EXPECT THE RESULT BE
SIGNIFICANT JOB LOSSES, BUT IT
SURELY LEADS TO OTHER PENDING
DEVELOPMEN
THAT WILL NOT
HAPPEN, THE GOVERNOR SAID.
>> THE VICTIMS HERE OF
FEAR TO
BE FOREIGNERS INVESTED AT LEAST
$500,000 THROUGH THE FEDERAL
PROGRAM IN EXCHANGE FOR A GREEN
CARD ALLOWING THEM TO OF COURSE
MOVE HERE.
THEY COULD BE OUT ALIENS NOW.
AND WHY NO CRIMINAL CHARGES
AGAINST EITHER OF THESE MEN?
>> THERE IS A LOT OF MONEY
MISSING, $60 MILLION ACCORDING
TO THE COMPLAINT.
THE CASE IS STILL DEVELOPING.
IT IS TRUE NO
CRIMINAL CHARGES
HAVE YET BEEN FILED BUT HE SAID
THAT COULD CHANGE AS THE CASE
UNFOLDS.
STEPHANIE: THANK YOU SO MUCH.
AS THE GOVERNOR SAID, THIS IS A
BAD DAY FOR THE STATE, BUT
PARTICULARLY FOR THE NORTHEAST
KINGDOM WHERE BILL SANGER HAD SO
MANY DREAMING OF AN ECONOMIC
TURNAROUND.
NEWPORT HAS LONG BEEN HOME TO
THE HIGHE UNEMPLOYMENT IN
VERMONT AND WAS SLATED TO GET A
NEW BIOMEDICAL RESEARCH FACILITY
AND A NEW DOWNTOW
FACILITY IN
THE DEAL.
THE GOVERNOR SAYS THEY ARE BOTH
PROBABLY GONE.
>> IT'S DEVASTATING NEWS.
THERE HAS BEEN A LOT OF PEOPLE
THAT HAVE BEEN LOOKING FORWARD
TO HAVING THESE NEW JOBS COMING
IN.
