Statement on the $32.5 million Settlement between the Jay Peak Receiver and Quiros Advisors

04 June 2021

Montpelier, VT –Today, Jay Peak Receiver, Michael Goldberg, reached a $32.5 million settlement with Mitchell Silberberg & Knupp LLP for its role in providing legal advice to Ariel Quiros and the EB-5 projects in the Northeast Kingdom.

Commissioner Michael S. Pieciak issued the following statement:

“This is a significant settlement that will benefit both the Jay Peak investors and help mitigate any financial uncertainty to the ski resorts as a result of COVID-19.” 

“We are very grateful to Michael Goldberg for securing this settlement and hope it is approved by the court in due course.”

“The fraud in the Northeast Kingdom caused significant harm to the investors and the community and today’s settlement is another big step forward toward healing and financial restitution.”  

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