Reports of a Securities and Exchange Commission investigation had been circulating for months last July when Jay Peak Resort president Bill Stenger met with a reporter to insist that his $500 million economic development plan for Vermont's Northeast Kingdom was still on track.
Seated in a spare room at the Hotel Jay & Conference Center, Stenger slid a photograph across a table. Taken nearly three years earlier in nearby Newport, it featured Stenger, business partner Ariel Quiros and their lawyer, William Kelly, announcing their goal to bring 10,000 jobs to the rural region. Standing between the developers in the photo were the state's four most powerful politicians: Sen. Patrick Leahy (D-Vt.), Sen. Bernie Sanders (I-Vt.), Congressman Peter Welch (D-Vt.) and Gov. Peter Shumlin.
"There are going to be good days and bad days," Stenger said, calling the day the photo was taken a good one.
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