BURLINGTON, Vt. (AP) — The alleged ringleader of a multimillion Vermont ski resort fraud scheme plans to withdraw his not guilty pleas, his lawyer said at an appearance in federal court.

“We have been cooperating with the government and we anticipate disposing of his … case by plea in the immediate future,” Neil Taylor, an attorney for Florida businessman Ariel Quiros told the court on Friday, according to the Times Argus.

Quiros, 64, of Key Biscayne, appeared at the hearing via video, but did not speak.

The terms of any possible plea bargain still need to be negotiated, according to Taylor, who took over as Quiros main defense counsel last month.

Quiros, who owned Jay Peak ski resort, pleaded not guilty in May 2019 to 12 felony charges, including seven counts of wire fraud and three counts of false statements.

Quiros and three others were indicted over a failed plan to build a biotechnology plant in Newport using $200 million in foreign investors’ money.

The trial for three of the defendants was scheduled for January. A fourth defendant, a South Korean businessman, remains at large.

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