The federal receiver appointed to oversee two Vermont ski resorts amid fraud allegations said Wednesday he's secured enough money to keep Jay Peak Resort open.
Michael Goldberg met with Jay Peak employees Wednesday, nearly two weeks after the federal Securities and Exchange Commission and the state accused the resort's owner and president of fraud.
"It's business as usual. It's actually better than usual because the management company ... is going through and making the operations more efficient, and we expect that the hotel will thrive. The only thing we're praying for is snow in the winter right now," Goldberg said.
Gov. Peter Shumlin joined him at the meeting with employees.
The resorts' owner, Ariel Quiros, of Miami, and Jay Peak's president, Bill Stenger, of Newport, Vermont, are accused of misusing in "Ponzi-like fashion" more than $200 million of nearly $400 million raised for development through a special visa program. The EB-5 visa program encourages foreigners to invest in U.S. projects that create jobs in exchange for a chance to earn permanent U.S. residency.
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