copyright the Chronicle April 27, 2016
by Tena Starr
A suspicious Securities and Exchange Commission (SEC) started questioning Bill Stenger and Ariel Quiros, owner of Jay Peak and Q Burke, back in May of 2014. But they weren’t the only ones who were suspicious, and they certainly were not the first.
Four years earlier, in 2010, John Carpenter, who was then controller at the ski area, told Mr. Stenger he believed something was awry, according to SEC documents. For one thing, he could not get access to the accounts at financial services company Raymond James, held by Mr. Quiros, which he’d repeatedly asked for, he told the SEC in a so-called “declaration.”
Mr. Carpenter’s quotes here come from that document.
The SEC is alleging that the Northeast Kingdom EB-5 projects were actually a giant Ponzi-like scheme, in which $200-million of…To read the rest of this article, and all the Chronicle‘s stories, subscribe:
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