- Associated Press - Thursday, September 28, 2017

BURKE, Vt. (AP) - Contractors who built a Vermont hotel at the center of $200 million fraud investigation will receive the final payments for the project.

The Caledonian-Record reports (https://bit.ly/2wZ96kZ ) Ariel Quiros, the owner of Jay Peak Resort, and former Jay president William Stenger, were accused last year of misusing more than $200 million raised from foreign investors through the EB-5 visa program for developments at or near the ski resort. Prosecutors said money was inappropriately funneled between Jay Peak and the Burke Mountain Resort.

A $150 million settlement won by court-appointed federal receiver Michael Goldberg was used to help pay contractors working on the Burke Mountain property. The final $3.6 million in the case was received on Sept. 18.

According to the Goldberg, checks for the contractors have been sent via Federal Express.

___

Information from: The Caledonian-Record, https://www.caledonianrecord.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide