MONTPELIER, Vt. (AP) - A Vermont official says subcontractors who haven’t been paid yet for the construction of a hotel and conference center at the Burke Mountain Resort will be getting paid before the investors in the project.
Patricia Moulton, secretary of the Vermont Agency of Commerce and Community Development, tells The Caledonian Record (https://bit.ly/1TxP71J ) that the receiver, Michael Goldberg is working on getting the subcontractors paid first.
The Securities and Exchange Commission and the state of Vermont have accused Ariel Quiros - owner of Jay Peak, and Bill Stenger, the resort’s president, of misusing about $200 million raised from foreign investors through a special visa program.
Both men have said they will be cleared of wrongdoing.
Moulton says the subcontractors who met with Goldberg were pleased.
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Information from: The Caledonian-Record, https://www.caledonianrecord.com
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