The federal receiver now running Jay Peak and Burke Mountain resorts stated Friday that former Jay Peak CEO Bill Stenger is no longer an employee at Jay. Stenger, the face of Jay for two decades who was embroiled in the EB-5 foreign investor scandal, had the previous day issued a statement to the media indicating that he had entered into a settlement with the Securities & Exchange Commission over the civil suit they had brought against him. Jay Peak owner Ariel Quiros separately faces charges of fraudulently taking money from investors for his personal use. He currently is fighting the SEC in court over the charges and over the freezing of most of his assets in Vermont, his home state of Florida and in other places.
As of Friday, September 2nd, Bill Stenger is no longer an employee of Jay Peak, but instead Bill will provide assistance to the Receiver on an as-needed basis. This change in Bill’s status coincides with the opening of the Burke Hotel and the stabilization of the Jay Peak Resort and the recognition that his services are no longer needed on a full time basis. We thank Bill for his assistance over the past few months, dated 09/02/2016"