Vermont Ski Resort Owner Denies SEC Civil Fraud Charges
BURLINGTON, Vt. (AP) -€” The owner of a Vermont ski resort is denying fraud allegations filed against him by the U.S. Securities and Exchange Commission.
In documents filed last week in federal court in Miami, Ariel Quiros (KWEHR'-ohs) denies that he was behind a $200 million fraud at Jay Peak ski resort.
Quiros and former Jay Peak President Bill Stenger were accused by Vermont and the SEC of misusing $200 million raised from foreign investors for developments through a special visa program. Quiros was also accused of improperly diverting $50 million for personal use.
Stenger has since settled his case with the SEC.
The Burlington Free Press (http://bfpne.ws/2iFhCz4 ) reports Quiros has asked the court to dismiss the SEC's complaint in its entirety and award him his costs, including "discretionary costs and attorney's fees."
Information from: The Burlington Free Press, http://www.burlingtonfreepress.com