Stenger admits investors were informed late

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The Tram Haus Lodge is the first project using EB-5 funds to be completed at Jay Peak.  Some investors in the project are unhappy about changes to the ownership structure made unilaterally by Bill Stenger and Ariel Quiros, the general partners in the project.  Investors were notified of the changes nine months after they were put into effect.  Photo by Joseph Gresser

The Tram Haus Lodge is the first project using EB-5 funds to be completed at Jay Peak. Some investors in the project are unhappy about changes to the ownership structure made unilaterally by Bill Stenger and Ariel Quiros, the general partners in the project. Investors were notified of the changes nine months after they were put into effect. Photo by Joseph Gresser

copyright the Chronicle August 6, 2014 

by Joseph Gresser

JAY — Bill Stenger and Ariel Quiros didn’t live up to state standards when they waited nine months before notifying 35 EB-5 investors they had dissolved the partnership that owned the Tram Haus Lodge at Jay Peak Resort, according to Brent Raymond, director of International Trade and the Vermont EB-5 Regional Center.

Mr. Stenger, co-owner of Jay Peak along with Mr. Quiros, agrees that the notification process was botched.

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