EB-5

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.

Pacific Group Resorts is offering $58 million for Jay Peak ski resort. The company, which is based in Park City, Utah, operates five other ski resorts, including Powderhorn Mountain Resort in Colorado and Ragged Mountain in New Hampshire.

The U.S Attorney for the District of Vermont has dismissed fraud charges against Alex Choi, the fourth man indicted over a scheme to build a biotech facility in Newport.

This hour, host Mikaela Lefrak talks with VPR reporter Liam Elder-Connors about his exclusive interview with Bill Stenger before Stenger goes to prison on a federal charge related to the EB-5 fraud.

In a few days, Bill Stenger, 73, will report to a federal prison in Massachusetts. There he’ll serve an 18-month sentence after pleading guilty to a felony charge for his role in the Northeast Kingdom EB-5 scandal. It was the largest financial fraud in Vermont’s history.VPR's Liam Elder-Connors spoke with Stenger in an exclusive interview.

The former owner of two Vermont ski resorts was sentenced Friday to five years in prison for his role in a failed plan to build a biotechnology plant using tens of millions of dollars in foreign investors’ money.

A federal judge on Wednesday sentenced William Kelly to prison for his role in the EB-5 scandal. He’ll spend 18 months in prison and must pay more than $8.3 million in restitution.

Bill Stenger, one of the architects of the Northeast Kingdom EB-5 investment scandal, was sentenced to 18 months in prison on Thursday following a day-long sentencing hearing. He also faces three years of supervised release and must pay $250,000 in restitution.