- Associated Press - Thursday, December 15, 2016

ST. JOHNSBURY, Vt. (AP) - A federal judge has authorized a $1.9 million payment to the official overseeing the aftermath of the fraud case at Jay Peak and Burke Mountain.

The payment is the first to federal receiver Michael Goldberg and the team he assembled to protect the interests of the investors at the two resorts and those with claims against the properties.

The Caledonian Record (https://bit.ly/2gNGOGW ) reports U.S. District Court Judge Darrin Gayles authorizing the payments says “the professionals have provided valuable services” that benefit the investors and the creditors involved in the case.

Former officials at Jay Peak were accused by Vermont and the federal Securities and Exchange Commission of misusing $200 million raised from foreign investors for developments through a special visa program.

Now the receiver is running the resorts.


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