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Ski Resort Life

Federal Government Charges Jay Peak/Burke Owners with Fraud

EB-5 foreign investor money was misspent, investors were misled by Stenger and Quiros, says SEC. Assets frozen. Court places Vermont resorts in receivership.

The beauty of the EB-5 Immigrant Investor Program, Jay Peak co-owner Bill Stenger told SKI Magazine last year, was that it provided him with “patient capital,” the kind he and partner Ariel Quiros weren’t required to pay back on a set timeline as they went about developing Jay and Q Burke resorts in Vermont.

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