The federal receiver overseeing Jay Peak Resort and other developments at the heart of the biggest alleged fraud case in the state’s history says recent purchase offers are not legitimate.
The two separate offers — one for $203 million and another for $93 million — come from a man who has been sued for securities fraud.
Attorneys for Ariel Quiros, the developer facing a federal fraud lawsuit stemming from an alleged “Ponzi-like” development scheme in the Northeast Kingdom, submitted a filing in July that included a letter of intent from Bellwether Asset Management to buy certain assets of Jay Peak for $93 million.
Jean Joseph, the manager of Bellwether Asset Management, has been charged with stealing $3 million from investors as part of a financing deal for a hotel in Brazil.
In August, Bellwether sent a letter of intent to Michael Goldberg, the court appointed receiver, offering $203 million for the Jay Peak assets held by the receivership.
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