Bill Stenger, the CEO and president of Jay Peak Resort, has asked a Miami federal court for an extension.
Stenger was supposed to file a response earlier this month to allegations from the Securities and Exchange Commission that he made misrepresentations to investors as part of the perpetration of a “Ponzi-like” scheme.
The Jay Peak CEO says he needs more time to negotiate a settlement with the SEC.
On Thursday, his attorney Stephanie Casey asked for an extension until Sept. 9.
Casey writes that a settlement would obviate the need for Stenger to file a response to the SEC’s complaint and “conserve resources.”
The SEC and the receiver, Michael Goldberg, do not oppose the motion.
This latest request for an extension is the third since the SEC brought charges against Stenger and his partner, Ariel Quiros, on April 12.
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