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Pacific Group Resorts Places Highest Bid for Jay Peak
A hearing is set for next week.
Thursday, September 8, 2022, NewEnglandSkiIndustry.com

Jay Peak, 2022


Over half a dozen years after the U.S. Securities and Exchange Commission raided Jay Peak over an EB-5 Ponzi scheme, the government-appointed receiver has filed a motion to accept a $76 million bid from Pacific Group Resorts. A hearing scheduled for next Friday.

Pacific Group Resorts initially placed a $58 million bid for the 2,500 acre resort earlier this summer. Additional bids were placed yesterday, increasing the purchase price by nearly $20 million.

Pacific Group


Pacific Group acquired its first ski area in 2007, when it acquired Ragged Mountain Resort in Danbury. Pacific Group took over Wisp, Maryland in 2012, followed by Wintergreen, Virginia and Mount Washington, British Columbia in 2015, and Powderhorn, Colorado in 2018.

Jay Peak EB-5


The SEC took control of Jay Peak and Burke on April 13, 2016, alleging that Ariel Quiros and Bill Stenger were running a Ponzi scheme that was defrauding investors. Stenger is currently serving at Devens FMC prison with a release date of September 15, 2023, while Quiros is at Pensacola FPC prison with a release date of October 27, 2026.

No government officials involved in the EB-5 immigrant investment scheme have been charged.



Related Stories on NewEnglandSkiIndustry.com
  • Judge Approves Jay Peak Sale to Pacific Group Resorts - September 17, 2022
  • Jay Peak Sale Process Kicks Into Gear - August 2, 2022
  • Former Jay Peak Owner Sentenced to Prison - April 29, 2022
  • Former Jay Peak CEO to Sentenced to 18 Months in Prison - April 14, 2022
  • Former Jay Peak CEO to Plead Guilty - August 11, 2021
  • Former Jay Peak Owner Pleads Guilty to Federal Charges - August 14, 2020
  • Former Jay Peak Owner to Plead Guilty - July 11, 2020
  • Former Jay Peak, Burke Owners Indicted - May 22, 2019
  • Sale of Jay Peak and Burke Mountain Delayed - August 14, 2018
  • Vermont Settles with Quiros, Stenger over Jay Peak, Burke Scheme - July 12, 2018


  • More Information
  • Jay Peak Resort on NewEnglandSkiIndustry.com
  • Jay Peak Resort on NewEnglandSkiHistory.com


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