Stoked News – News, Videos, surf, skateboard, snowboard, motorsports, action sports » Blog Archive » Snowboard Ski – Federal Government Charges Jay Peak and Q Burke Resorts’ Owners with Fraud
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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.

Their wealthy foreign investors did get one immediate return: U.S. visas, and a path to U.S. citizenship, for themselves and their families. And Vermont workers   …  More

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This entry was posted on Thursday, April 14th, 2016 at 1:55 pm and is filed under Business news, Skiing, Snow, Snowboard. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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