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Jay Peak

Jay Peak receiver seeks $1.35M

The $1.35 million will cover six months’ worth of expenses for the court-appointed receiver overseeing the properties at the heart of the alleged “Ponzi-like” scheme.

Quiros fraud defenses at issue as settlement talks continue

In dueling court filings, the two sides disagree over what arguments Ariel Quiros should be allowed to raise to allegations he defrauded foreign investors.

Judge gives final OK to financial firm’s settlement in EB-5 case

The nearly $150 million will be used in part to finish incomplete projects spearheaded by Ariel Quiros in the Northeast Kingdom and to pay contractors’ and vendors’ outstanding bills.

Special report: EB-5 reforms face major hurdles

Fraud in the EB-5 program has been rampant, and Sen. Patrick Leahy has been critical of a lack of federal oversight.

EB-5 investor: Raymond James $150M settlement ‘grossly inequitable’

While he is getting his money back, Xiong says that he, and other investors like him, will have no opportunity to get a green card.

SEC filing: Quiros discloses $150,000 account in Colombia

The hunt for assets of Ariel Quiros continues in the investigation of alleged investor fraud involving Vermont properties. Recently the search has yielded some surprises.

UPDATED: Jay Peak investor sues state

The lawsuit alleges that state officials and the developers at Jay Peak were partners in the largest fraud in the history of the national EB-5 program.

Quiros battle rages over $2 million in attorneys’ fees

Dueling filings show that Ariel Quiros’ new counsel claims his previous lawyers have revealed attorney-client information in documents submitted to the court.

No break for Jay Peak on tax penalty; court battle looms

Town officials rejected a request by a court-appointed receiver who is overseeing properties tied to a federal fraud case. The tax bill has been paid, but a $164,159 late fee remains.

Judge asks Quebec counterpart to compel testimony on resort

“The evidence … is necessary in order for the Court to do justice in this case,” the judge wrote. The SEC wants to question executives of the company that sold Jay Peak to Ariel Quiros.

SEC seeks to depose Canadian executives over Jay Peak sale

Federal regulators filed a request to compel officials with Saint-Sauveur Valley Resorts to explain how Ariel Quiros purchased the ski resort.

Jay Peak receiver asks town board to waive $164,159 tax penalty

Under federal law, the penalties can not be applied to properties in receivership, according to Michael Goldberg, the receiver for the Jay Peak properties.

Stenger ‘providing tremendous value’ on the job at resorts

The former president and CEO at Jay Peak, who is accused of investor fraud, works as a part-time consultant for $50 an hour and the use of a Volvo.

Jay Peak profits rise to over $9 million, officials report

That’s estimated to be quadruple what they were in the prior fiscal year, when Ariel Quiros and Bill Stenger were still in charge and about to face state and federal fraud allegations.