EB-5

Michael Goldberg, the court-appointed receiver in charge of Burke Mountain, said in a press release this week he was “now finalizing” the sale of the resort. The Northeast Kingdom ski resort and hotel has been overseen by Goldberg since 2016, when federal regulators accused the former owners of running a “Ponzi-like” scheme.

Michael Goldberg, the court-appointed receiver overseeing Burke Mountain Resort, wrote in a recent court filing he’s found a party to serve as an initial bidder on the property and that he hopes to complete the sale later this year.

Attorney General Charity Clark told Vermont Public last year that she would pursue coverage from the state's insurance carrier to cover those costs.

A federal judge still needs to sign off on the payment amounts for the settlement, which Vermont officials announced in July.

A proposed global settlement would resolve more than 30 pending lawsuits against the state of Vermont, and bar any future litigation related to the EB-5 scandal. A federal court still needs to sign off on the deal.

The state of Vermont has agreed to pay $16.5 million to settle all pending lawsuits — and potential lawsuits — related to the EB-5 scandal.

An unnamed buyer has submitted a bid for a Northeast Kingdom ski resort caught up in the EB-5 scandal, according to recent court filings.

After more than six years in receivership, Jay Peak ski resort will have a new owner. A federal judge in Florida on Friday approved the $76 million sale of Jay Peak ski resort to Pacific Group Resorts, Inc. (PGRI).

Host Connor Cyrus speaks with reporter Liam Elder-Connors about the EB-5 fraud that put ski resort Jay Peak up for auction. He also talks with resort president Steven Wright about what the sale means for the hundreds of workers at the resort.

A ski resort conglomerate based in Utah is in line to buy Jay Peak Resort for $76 million after submitting the highest bid in an auction Wednesday. The sale to Pacific Group Resorts, Inc. (PGRI) is pending approval by a federal judge in Florida.