Bill Stenger, the former CEO of Jay Peak, penned his own filing defending himself against fraud allegations brought by investors in a series of projects he headed with his former business partner Ariel Quiros.
Stenger earlier this year settled an investor fraud lawsuit filed against him by the U.S. Securities and Exchange Commission, neither admitting or denying the allegations.
However, in a filing this week in a class-action lawsuit brought by investors against him and others associated with the investor-funded development projects, Stenger denied wrongdoing. He points the finger of blame at Quiros, Jay Peak’s owner as well as a defendant in the case.
The allegations in the class-action lawsuit, led by Brazilian investor Alexandre Daccache, closely mirror claims made by the SEC in their lawsuit against Stenger and Quiros.