by Joseph Gresser
BURLINGTON — The last of three men federal authorities say were responsible for the AnC Bio fraud will spend five years in a federal prison. Ariel Quiros Sr., who pled guilty to three charges related to the bio-medical facility that was to have been built in Newport, was sentenced by U.S. District Court Judge Geoffrey Crawford.
Mr. Quiros pled guilty to conspiring with William Kelly, Jong Weon (Alex) Choi, and William Stenger, in a wire fraud scheme to defraud foreign investors seeking residence in the U.S. through the federal EB-5 visa program. The investors put money into a plan to build a biomedical business in Newport called AnC Bio, that Judge Crawford has called “a fiction from beginning to end.”
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