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.
As skiers wait for snow, Legislature tackles burning issue.
The après beer is so much a part of skiing. But which resort will be the first to feature a slopeside marijuana lounge?
That might still be hard to imagine, but another ski state, Vermont, may soon join Colorado and Washington in making the sale of pot legal.
Vermont Gov. Peter Shumlin announced his qualified support for legalization in his State of the State address last week. And the state’s Legislature will take up the issue as it embarks on a new session.