Michael Goldberg explains a settlement with the financial firm Raymond James which will pay contractors and investors owed money in the Jay Peak and Burke Mountain EB-5 projects at the Statehouse in Montpelier on Thursday, April 13, 2017.
Contractors who built a Vermont hotel at the center of $200 million fraud investigation will receive the final payments for the project.
The Caledonian-Record reports Ariel Quiros, the owner of Jay Peak Resort, and former Jay president William Stenger, were accused last year of misusing more than $200 million raised from foreign investors through the EB-5 visa program for developments at or near the ski resort. Prosecutors said money was inappropriately funneled between Jay Peak and the Burke Mountain Resort.
A $150 million settlement won by court-appointed federal receiver Michael Goldberg was used to help pay contractors working on the Burke Mountain property. The final $3.6 million in the case was received on Sept. 18.
According to the Goldberg, checks for the contractors have been sent via Federal Express.