Jay Peak receiver claims pre-Quiros owners aided and abetted fraud, wants attorneys deposed

Jay Peak receiver claims pre-Quiros owners aided and abetted fraud, wants attorneys deposed

EB-5 Visa, EB5 Visa, EB5 Investments

Receiver Michael Goldberg is seeking to depose the attorneys of Mont Saint-Sauveur International; Goldberg claims MSSI illegally accepted $18 million in EB-5 investor funds from buyer Ariel Quiros, the man behind the biggest EB-5 fraud ever. Goldberg is suing MSSI for more than $80 million in damages.

The receiver for the embattled resort wants a federal judge to allow him to depose two attorneys for the Canadian company who owned the infamous resort before selling it to Ariel Quiros. The Securities and Exchange Commission (SEC) determined Quiros wrongly used EB-5 investor capital to buy the resort from Mont Saint-Sauveur International.  

Goldberg wants to take the depositions of Alwynn Gillet and Janice Naymark, who legally represented MSSI during the time of the sale of the EB5 project. Goldberg says the lawyers “gave counsel which directly resulted in the transfer of $18 million of EB5 green card investor funds, which Quiros ultimately used to acquire the ski resort.

The receiver’s filing states that former owners “aided and abetted the fraudulent scheme with knowledge of the improper and illegal nature of its actions.” 

David Pocius, the lawyer for Saint Sauveur Valley Resorts (the new name of MSSI) is fighting Goldberg’s request for deposition of the lawyers. Pocius says Goldberg is not seeking to depose any other witnesses and has not reviewed the over 900,000 case documents he can access. The resort’s lawyer calls it “ludicrous” to say Goldberg has a need for the depositions and that he has not exhausted other means to get the information he needs.

Goldberg is the lead plaintiff in a lawsuit against the Canadian resort company and says the damages against Saint Sauveur may exceed the sale price of the Jay Peak — perhaps over $80 million.

Saint Sauveur Valley Resorts calls the receiver’s claim for damages “preposterous” and maintains Goldberg should not be able to collect damages over and above the Jay Peak assets he currently controls.

SSVR also contends that when the resort sold Jay Peak to Quiros, they sent a letter saying that the capital of the EB5 investors“may not be used in any manner” for the sale of the resort. But during the SEC filing in a case last year, an investor lawyer claimed that document was just a “protect your ass” letter and that the Canadian company was fully aware that Quiros would be using EB-5 investor capital to pay for Jay Peak.



Litigation Cases


  • Vermont

Securities Disclaimer

This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.