HYDE PARK, Vt. (AP) — A Vermont judge has dismissed a lawsuit filed by foreign investors against state officials in a fraud case involving developments in and around the Jay Peak ski area.
A group of foreign investors had sued the Agency of Commerce and Community Development and the Department of Financial Regulation, saying they were negligent in their oversight of the ventures.
Vermont Public Radio reports a judge on Friday said they don’t have a case.
Former Jay Peak owner Ariel Quiros and then-president William Stenger were accused in 2016 of misusing more than $200 million raised from foreign investors through a federal visa program.
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Quiros has reached an $81 million settlement with the Securities and Exchange Commission. Stenger has agreed to pay a $75,000 penalty.
Information from: WVPS-FM, http://www.vpr.net