- Associated Press - Wednesday, October 11, 2017

HYDE PARK, Vt. (AP) - Vermont officials say the state shouldn’t be liable for losses in a fraud case that cost a ski resort’s foreign investors millions of dollars and potentially the opportunity to live in the United States.

The Burlington Free Press reports the state attorney general’s office filed a motion Monday to dismiss the investors’ lawsuit, saying the government employees named should be immune.

The state also says the investors can’t file a lawsuit on their own because a federal receiver is representing their interests.

Jay Peak ski resort owner and Miami businessman Ariel Quiros and former Jay Peak president William Stenger were accused of misusing more than $200 million raised from foreign investors through a visa program.

Quiros has reached a partial settlement with the Securities and Exchange Commission. Stenger has settled with the SEC.


Information from: The Burlington Free Press, https://www.burlingtonfreepress.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide