Jump to content

Jay Peak fraud and ponzi scheme case

Recommended Posts

I'm sure many are familiar with this on-going case and investigation into the funding of Jay Peak's recent expansions by Ariel Quiros and Bill Stinger.

Just found on VTDigger that the Jay Peak receiver is now trying to press charges against the previous owners of Jay Peak, namely Saint-Sauveur Valley Resorts (formerly MSSI).  Here is a quote:

“Plaintiff details in the (lawsuit) how SSVR enriched itself at investors’ expense by transferring investor funds to Raymond James accounts controlled by Quiros; transferring ownership of the Jay Peak resort to Quiros and Stenger without any evidence of financing and for a minimal deposit; and receiving and retaining investor funds from the Raymond James accounts as payment for the resort,” the filing stated.

More details here https://vtdigger.org/2018/06/10/receiver-presses-case-former-canadian-owners-jay-peak/

Needless to say, this is only the latest in this epic scandal that has been filled with plenty of twists and turns. Let's hope for the best.

Share this post

Link to post

Not only Jay Peak was tagged in this scheme, but also Burke Mountain as well, as Quirios and Stenger were involved there too. I believe things were settled down at Burke before Jay was settled. I will be curious in how this is going to play out for the Sauveur group since they owned Jay at the time of the transfer to Quirios and Stenger. 

Share this post

Link to post

omg this is nuts. Actually I was thinking the other day how great it would be if they buy it back!

(ie. so that Vail and Alterra don't get their dirty mitts all over Jay and Burke!!)

oh well...

Share this post

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now