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
Former Jay Peak Resort, VT Owner Indicted On Federal Charges in Multi-Million Dollar Fraud Case The former owner and former president of a Vermont ski resort accused in a multimillion-dollar fraud case were indicted on federal charges unsealed last week over a failed plan to build a biotechnology plant using foreign investors’ money. The charges are against Jay Peak’s former owner, Ariel Quiros, of Florida; its former president, William Stenger, of Newport; Quiros’ adviser, William […] Industry News SnowBrains | May 29, 2019 0 Comments
Government Official Requested Audits into Jay Peak Resort, VT Years Before Fraud was Discovered A government official claims he repeatedly recommended audits into what he suspected were criminal goings-on at Jay Peak Resort years before it was exposed that the owners were committing fraud, but was told to stand down reports VTDigger. In a sworn deposition last month, Brent Raymond, who was in charge of the EB-5 program, said he asked the commerce agency […] Industry News SnowBrains | September 26, 2018 0 Comments
Proposed Sale of Jay Peak Resort and Burke Mountain, VT on Hold Until Next Summer at Least Jay Peak is expected to be in the hands of a new owner next summer while the sale of Burke Mountain is now indefinitely on hold, according to Michael Goldberg, the court-appointed receiver overseeing the two Northeast Kingdom ski resorts at the center of a massive EB-5 scandal, reports VTDigger. Burke Mountain’s sale is on hold, Goldberg said, as it continues […] Industry News SnowBrains | August 16, 2018 0 Comments
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
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