Previously in this space, I questioned if it was possible that an experienced businessman like Bill Stenger could actually be clueless to the rampant looting of his own project, and remain that way for several years running.
My conclusion: No, he could not.
Which brings us to this: If he knew what was going on, why did he let Ariel Quiros (who had illegally used EB-5 investor money to become Stenger’s boss) pursue this crooked scheme? Why did he put his own finances and reputation on the line, even when the signs of trouble became impossible to miss?
Two possibilities. First, he was getting a cut. Could be.
Second, he was in severe financial straits and needed a Quiros to bail him out. Call Quiros a “devil investor,” if you will. Certanly not an angel.