After allegations of Ponzi schemes and fraud were levied against Jay Peak owners Ariel Quiros and Bill Stegner, an outpouring of frustration, anger, and sadness have enveloped the New England skiing community.
UPDATE: Jay Peak Inc. Ponzi Scheme And Future Resort Operations
However, a lawyer representing Quiros says those allegations are not only inaccurate but “flat false” reports ABC News. David Gordon, who represents Quiros, thinks that the Jay Peak owner was entitled to the capital he allegedly misused and misappropriated according to the Securities and Exchange Commission.
Ariel Quiros and Bill Stegner are accused of misusing roughly $200 million dollars worth of foreign investment.
Find the entire ABC News article here: Ski Resort Owner’s Lawyer – Fraud Allegations ‘Flat False’