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21 posts

Quiros agrees to settlement


copyright the Chronicle August 30, 2017   by Joseph Gresser   Ariel Quiros, the owner of Jay Peak, has followed the path blazed several months ago by Bill Stenger, the resort’s former president, and agreed to a settlement on civil charges of investment fraud. ... More »

Judge approves $150-million settlement


copyright the Chronicle July 5, 201   by Joseph Gresser   U.S. District Court Judge Darrin Gayles cleared the way for contractors, merchants, and some EB-5 investors to recover money Jay Peak and Burke Mountain Resorts owes them. On Friday he gave final approv... More »

EB-5 investor sues state


copyright the Chronicle June 21, 201   by Joseph Gresser   An investor in the first of Jay Peak’s EB-5 projects is suing the state Agency of Commerce and Community Development, the Department of Financial Regulation, the Vermont Regional Center (VRC), and a nu... More »

Raymond James agrees to $150-million settlement


copyright the Chronicle April 19, 2017   by Joseph Gresser   A year and a day after the federal and state governments filed civil charges connected with Jay Peak’s EB-5 projects, the receiver in the case announced a settlement intended to pay money owed to con... More »

Lawsuit claims EB-5 fraud started in 2008


copyright the Chronicle April 12, 2017   by Joseph Gresser   BURLINGTON — Two investors in EB-5 projects at Jay Peak Resort claim that securities fraud at the ski area started in 2008 when Ariel Quiros paid for the resort using money meant to build hotels. The... More »

Federal receiver fields questions in Jay


copyright the Chronicle March 8, 2017   by Joseph Gresser   JAY — Residents here heard from the effective owner of Jay Peak Resort before they began their Town Meeting Tuesday morning. Michael Goldberg, the receiver appointed by U.S. District Judge Darrin Gayl... More »

SEC wins early victory against Quiros


copyright the Chronicle November 23, 2016 by Joseph Gresser   In a ruling issued Monday, U.S. District Judge Darrin Gayles gave the Securities and Exchange Commission (SEC) an early victory in its suit against Ariel Quiros. The federal agency was granted its r... More »

Lawyers for Stenger tell state to bring it on


copyright the Chronicle October 19, 2016 by Joseph Gresser NEWPORT — Lawyers for Bill Stenger have told the state to bring it on. In a September 7 filing in the Civil Division of Washington County Superior Court, they denied all the fraud charges related to EB... More »

Potential Jay Peak buyer accused of fraud


copyright the Chronicle September 21, 2016  by Joseph Gresser JAY PEAK — When Michael Goldberg got a letter offering to buy Jay Peak for $93-million some aspects of it set off alarms. His suspicions proved to be justified when a quick search showed that the ma... More »

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 reso... More »

Quiros allowed $15,000 a month for expenses


copyright the Chronicle June 1, 2016 by Joseph Gresser U.S. District Court Judge Darrin Gayles granted, in part, Ariel Quiros’ request for money to pay legal fees and living expenses last week. The same day Mr. Quiros, the owner of Jay Peak and Burke Mountain ... More »