Michael Goldberg blends in with the patrons at Hotel Jay, near the Canadian border, dressed in jeans, hiking shoes and a grey North Face fleece jacket.
But unlike the skiers filtering in and out of the spacious lobby, Goldberg, along with a federal court in Miami, holds the fate of Jay Peak ski resort in his hands. To ensure that fate is a good one, he expects to quadruple the resort's profits this year, and increase them again next year, before selling Jay Peak for as much as 10 times the profit number.
The Miami court appointed Goldberg as receiver of Jay Peak in April after the U.S. Securities and Exchange Commission accused the former owner, Ariel Quiros, and his partner, Bill Stenger, of perpetrating a Ponzi-like scheme on the foreign investors who paid to build this hotel and many other properties here and at Burke Mountain resort.
Stenger struck a deal with the SEC to resolve the case against him, but Quiros continues to fight his case in court, denying all charges.
Goldberg is well versed in this type of work.
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