Stenger settles, no longer works at Jay
copyright the Chronicle September 7, 2016
by Joseph Gresser
Bill Stenger, the former president of Jay Peak Resort, is no longer a defendant in the civil lawsuit filed by the federal Securities and Exchange Commission (SEC) against him and the owner of the resort, Ariel Quiros. Mr. Stenger is also no longer employed by Jay Peak.
After several months of negotiations, Mr. Stenger reached an agreement with SEC lawyers under which he will be liable to whatever penalties U.S. District Judge Darrin Gayles might impose for securities fraud. Although Mr. Stenger neither admitted nor denied the charges filed against him, he will allow himself to be treated as if he were guilty of the charges for purposes of punishment.
As part of the settlement, Mr. Stenger is permanently barred from participating in any way in selling securities connected to the EB-5 visa program or having any control over a business that does.
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