Former Jay Peak Owner Ariel Quiros Reaches $81 Million Settlement with SEC

SAM Magazine—Miami, Fla., Feb. 2, 2018—Jay Peak’s former owner who allegedly misused millions of dollars in EB-5 foreign investor funds has agreed to pay back $81 million as part of a settlement with the government. The SEC charged Quiros in 2016 with orchestrating a “ponzi-like” scheme.

The government also said that Bill Stenger, former president and CEO of Jay Peak who was implicated in the scheme, has agreed to pay a $75,000 penalty. Stenger has been cooperating with the federal investigation since charges were brought, but the government said he did not personally benefit from the scheme.

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