Documents: Stenger knew more about Kingdom Con than he admitted
BURLINGTON, Vt. (WCAX) - How much did former Jay Peak president Bill Stenger know about the schemes behind the big Kingdom Con? Federal prosecutors are painting a different picture than Stenger in court documents filed this week.
In accepting a plea deal in the federal criminal case last month, Stenger maintained he was never in on the scheme that defrauded foreign investors and had been duped by his business partners.
But in a 100-page filing, prosecutors dispute that, saying, “Stenger was not just a bystander to the fraud that occurred, but an integral part of the sweeping fraud scheme.”
The documents were filed in advance of sentencing procedures for Stenger, Ariel Quiros and William Kelly. All took plea deals in the case and could get several years in prison.
The Kingdom Con is Vermont’s largest-ever fraud case. It targeted foreign investors with green cards in exchange for half-million-dollar investments to spur economic development in projects at Jay, Burke and in Newport.
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