The lawyer a federal judge appointed to run two Vermont ski resorts said Wednesday that he has the funds to continue operating Jay Peak, during an ongoing investigation into allegations of large-scale investment fraud.
"It's business as usual," said Michael Goldberg, the federal receiver for both Jay Peak and Q Burke Resort, describing Jay. "This is an important part of this area, and it will stay and remain operational."
Disappointment Growing in City Rocked by Fraud Allegations
Jay Peak and Q Burke have been under a cloud of uncertainty for two weeks, since allegations of a Ponzi-like scheme by developers Bill Stenger and Ari Quiros. The businessmen were accused in state and federal civil lawsuits of misusing more than $200-million in investor money.
Read more by clicking below image