Receiver for Jay Peak Resorts Declines $93 Million offer from Bellwether Asset Management and Elicits Further Investigation In the spring of 2014 the Securities and Exchanges Commission (SEC) began investigation and a trial against Bill Stenger and Ariel Quiros. Stenger and Quiros are two major developers who took part in a large portion of the redevelopment for Jay Peak Resorts and its affiliates as well as other projects in the Northeast Kingdom and facilities throughout New England […] Dylan Cautela | September 8, 2016 0 Comments
PBS NEWS VIDEO: In-Depth Invesigation Into $200 Million Jay Peak, VT Fraud [iframe id=”http://player.pbs.org/viralplayer/2365812993″] Jay Peak ski area in Vermont has been shrouded in scandal this year following a federal accusation of huge fraud to the tune of $200 million. They stole $200 million of the $350 million they fundraised from 700 different investors. That’s 57% of all the monies raised! Why did they think they’d get away with this? Silly. The […] SnowBrains | August 2, 2016 2 Comments
The State of Vermont Reaches A $5.9 Million Settlement In Jay Peak Probe According to a Vermont press release, the state has reached a $5.9 million settlement with a financial firm related to the fraud investigation of real estate developments at Jay Peak and Burke Mountain. The Department of Financial Regulation found that Raymond James and Associates’ Miami branch failed to comply numerous times with supervisory requirements and Vermont law. Miami businessman Ariel Quiros, […] Industry News Chris Wallner | July 9, 2016 1 Comment
Owners of Jay Peak & Burke Ski Resorts in Vermont Accused of Massive Fraud by State & Feds According the Addison County Independent, the owners of Jay Peak ski resort, VT and Burke ski resort, VT have been accused with fraud by the Securities and Exchange Commission (SEC) and the state of Vermont. The SEC has filed fraud charges against Ariel Quiros and Bill Stenger and froze their assets. Investigators are alleging that Quiros and Stenger misused hundreds of millions of dollars raised via the EB-5 investor […] Industry News SnowBrains | April 14, 2016 2 Comments