Jay Peak is alarmingly short of money
copyright the Chronicle April 27, 2016
by Joseph Gresser
Jay Peak may not have enough money to keep going through the summer, said Michael Goldberg, the Florida lawyer put in charge of overseeing the collection of EB-5 projects centered around the ski resort.
“I have learned that the Receivership Entities are in dire financial position and in danger of not having sufficient funds to continue operating beyond the very immediate future,” he wrote in a declaration directed to the U.S. District Court for Southern Florida.
Mr. Goldberg was given control of Jay Peak and the other assets of its owner, Ariel Quiros, by federal judge Darrin Gayles on April 13. As the court-appointed receiver he has been investigation the finances of a network of companies connected with Jay Peak’s EB-5 project as well as those of the ski resort itself.
The SEC has alleged that Bill Stenger and Mr. Quiros misused about $200-million of…To read the rest of this article, and all the Chronicle‘s stories, subscribe:
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