It will be more than a year before Jay Peak owner Ariel Quiros stands trial in federal court on allegations that he orchestrated a “Ponzi-like” scheme to defraud immigrant investors of millions.
Judge Darrin P. Gayles issued a scheduling order Thursday in the civil lawsuit the Securities and Exchange Commission brought against Quiros in April. The order calls for the trial to start Sept. 17, 2018, about 2½ years after the filing of the lawsuit.
The judge also set a deadline of June 2, 2018, for the filing of all pretrial motions. The case is being heard in federal court in Miami because that’s where Quiros lives and many of his businesses are located.
The order, which is only one paragraph, doesn’t say why it will be so long before the trial starts. The judge’s order closely follows a short filing by the SEC laying out a possible schedule for the case.
Read more by clicking below image