Jay Peak receiver's bill for EB-5 cleanup now tops $8M

The cost for attorneys and financial professionals for the clean-up so far from the Jay Peak investor fraud scandal is now more than $8 million.

A federal judge recently approved the latest request for fees and expenses from Michael Goldberg, a court-appointed receiver who has been overseeing the properties related to the scandal since April 2016.

Goldberg took his post after state and federal regulators brought civil investor fraud lawsuits against Ariel Quiros, Jay Peak’s owner, and Bill Stenger, past president and CEO of the resort.

Both Quiros and Stenger as well as two of their associates have since been indicted on federal criminal charges of fraud and making false statements to the government related to a failed project they headed to build a $110 million biomedical research center in Newport.

Read more: https://vtdigger.org/2020/07/02/jay-peak-receivers-bill-for-eb-5-cleanup-now-tops-8m/