by Joseph Gresser
BURLINGTON — Bill Stenger, the former president of Jay Peak Resort, pled guilty Friday to a single felony charge of knowingly and willingly giving false documents to a state regulator.
Mr. Stenger appeared before Chief Judge Geoffrey Crawford in U.S. District Court in Burlington and admitted knowingly submitting false information to the Vermont Regional Center to get permission to raise money for AnC Bio, a biomedical project proposed for Newport. The plan fell apart after it was discovered that much of the $85-million raised from investors was diverted for other uses.
As part of a plea agreement under which Mr. Stenger pled guilty to a single felony, federal prosecutors dismissed a charge of conspiracy, seven charges of wire fraud, one of covering up the scheme, as well as a second charge of providing false information.
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