Jay Peak, VT Owner Ariel Quiros Ordered to Repay $81.3 Million in International Fraud Case The U.S. Securities and Exchange Commission has reached a settlement with Jay Peak owner Ariel Quiros in the Jay Peak fraud case, holding him liable for paying back $81.3 million and fining him an additional $1 million, reports Burlingtonfreepress.com. He will avoid jail time though. Quiros, along with partner Bill Stenger, was accused by the SEC in April 2016 of perpetrating a […] Industry News Steven Agar | February 8, 2018 1 Comment
Burke Mountain, VT, Receives First Bid According to Ski Area Management, an unnamed bidder has made an offer of an undisclosed amount to buy Burke Mountain Resort, VT. Burke Mountain is being sold by the court appointed receiver, Michael Goldberg, after the previous owner, Ariel Quiros, was caught up in the ‘EB-5 fraud-scandal’. Burke Mountain and Jay Peak ski resort were put into receivership in 2016 after the […] Industry News Julia Schneemann | June 23, 2023 0 Comments
Pacific Group Resorts, Inc. Has Bought Jay Peak Resort, VT, for $76-Million Jay Peak Resort, VT, has a new owner. The auction for the resort concluded yesterday after a full day of bidding, reports Alan J Keays for the VTDigger. Utah-based Pacific Group Resorts, Inc. won the auction with the highest bid of $76 million. PGRI owns and operates five other North American ski areas: Ragged Mountain, NH; Wisp, MD; Wintergreen, VI; Powderhorn, CO; […] Industry News SnowBrains | September 8, 2022 0 Comments
Sale of Jay Peak Resort, VT, Goes to Auction Tomorrow | At Least 3 Other Bidders Involved The sale of Jay Peak Resort, VT, will go to auction tomorrow Wednesday, September 7th, The Storm Skiing Journal is reporting. An internal memo sent by General Manager Steve Wright and seen by The Storm Skiing Journal confirmed that another three bidders have put in deposits since Pacific Group Resorts started the bidding at $58 million on August 1st. “While […] Industry News SnowBrains | September 6, 2022 1 Comment
“Multiple Potential Bidders” Interested in Buying Jay Peak Resort, VT An anonymous bidder, and potentially more, has entered the auction to purchase Jay Peak Resort in Vermont, VTDigger reports. Related: Park City Company Begins the Bidding for Jay Peak Resort, VT, at $58 Million Pacific Group Resorts, Inc. (PGRI) started the auction with a $58 million asset purchase agreement (APA) to acquire Jay Peak Resort, VT, reported Ski Area Management. The […] Industry News SnowBrains | August 22, 2022 0 Comments
Park City Company Begins the Bidding for Jay Peak Resort, VT, at $58 Million Pacific Group Resorts, Inc. (PGRI) has entered into a $58 million asset purchase agreement (APA) to acquire Jay Peak Resort, VT, reports Ski Area Management. A judge has ten days to approve the sale after which other companies can still bid in excess of PGRI’s $58 million offer. “All that has happened is the receiver has filed a motion with the […] Industry News SnowBrains | August 2, 2022 0 Comments
Former Vermont Ski Resort Owner Sentenced to 5 Years in Jail for Fraud Ariel Quiros, the former owner of Vermont ski resorts Jay Peak and Burke Mountain Resort, has been sentenced to serve five years in jail, ending Vermont’s longest ever fraud-related case. After nearly seven years, and multiple accounts of money laundering, Quiros agreed to a plea deal and will serve time. Quiros is set to begin his sentence on July 26th. […] Industry News Aunika Skogen | May 2, 2022 0 Comments
Burke Mountain Resort, VT Valued at $18.7 Million Burke Mountain Resort, located just outside Lyndon, VT in the northeastern part of the state, is for sale. What’s included in the sale? Burke Mountain (Ski) Resort 116-room Burke Mountain Hotel and Conference Center 2 ski lodges 1,608 acres of land The $18.7 million sale price was upheld by the Burke Board of Civil Authority. The appraised valuation was in […] Industry News Taylor Stephan | September 16, 2020 1 Comment