The Last Burke Payment

BurkeBURKE- Contractors who built the Burke Mountain Resort were set to receive the final payments for the project last night. 

 

In April of 2016, Ariel Quiros and his former business partner Bill Stenger were accused by the federal Securities and Exchange Commission and the Vermont Attorney General of misusing over two hundred million dollars through the E-B 5 Foreign Visa Program. 

 

 

 

 

Quiros has claimed he did not steal from the projects. He has been accused of stealing more than $50 million dollars to suit his personal needs. The Burke hotel struggled to pay off vendors, contractors, and staff was not available. 

 

Raymond James, the financial services firm in which Quiros held accounts at and fulfilled his operations through, did not confess of doing anything wrong. All parties are not eligible to pursue further action against the company. This allows contractors in the Jay Peak Stateside projects, vendors, and EB-5 investors to all be paid. 

 

Michael Goldberg, federal receiver, explained sending out the checks was, "A good feeling by us. We are thrilled to send out the checks. People were patient and stood by us."

 

The last $3.6 million of the $150 million dollar settlement were sent in the mail on September 18. This final payment was part of the second half of the Raymond James settlement. 

What's Coming Up At 5:30

What's Coming Up Tonight at 5:30

 

ST J DOWNTOWN EXPANSION.
The main part of the expansion focuses on the northern part of bay street, where they hope to create a recreation hub for river trail riders and revitalize their riverfront in the process.

 

DISTILLERY STABILIZATION
The town of st. Johnsbury has decided to stabilize the taxes on the new distillery building just off of pearl street. The select board has decided to stabilize the current tax rate on the building to help the distillery open its doors.

 

TAKE BACK DAY.
This Saturday, April 27th is national Drug Take Back Day. Local pharmacies and police departments are taking part in this day to get unwanted medications off the streets.