Receiver hopes to sell Jay Peak by summer of 2020

Published: Oct. 18, 2019 at 11:42 AM EDT
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The federal receiver overseeing two Vermont ski resorts after their owner was accused of massive fraud says about dozen potential buyers have expressed interest in Jay Peak Resort, and he's hopeful that it will sell by the summer of 2020.

In a court filing this week, Michael Goldberg says he's not sure how much the resort will sell for, but says he is "fairly certain" that investors will "incur a significant loss of their principal investment." VTDigger first reported on the court filing.

Former Jay Peak owner Ariel Quiros and former president William Stenger were accused of misusing more than $200 million raised from foreign investors for development projects through a special visa program. They have reached settlements with the state and U.S. Securities and Exchange Commission.

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