Burke, Jay Receiver Files Latest Receivership Bills

U.S. Attorney for Vermont Christina Nolan prepares to announces indictments of Bill Stenger, Ari Quiros and two others on fraud and other charges over the Anc Bio scandal in Newport City. She delivered the press conference in May in front of the vacant lot left behind when the Ponzi-like scheme collapsed. (File Photo by Robin Smith)

More than three years have passed since federal Securities and Exchange Commission (SEC) agents raided Burke Mountain and Jay Peak ski resorts in the Northeast Kingdom, as part of a property seizure in what officials would describe as the biggest fraud case in Vermont history.

And while most of those assets, including the two ski resorts in Burke and Jay, and many other real estate and cash holdings have been officially turned over to the federal receivership in charge of the assets by former owner Ariel Quiros, the receivership continues to work to aid defrauded immigrant investors and to position both ski properties for eventual sale.

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