HYDE PARK, Vt. — An investor in a Vermont ski resort whose owner is accused of massive fraud has filed a lawsuit accusing the state of covering up the alleged fraud scheme.
Tony Sutton, of London, filed a civil suit on May 30 accusing the state regional center set up to oversee projects funded by foreign investors in a federal visa program of allowing the fraud to continue.
Vermont Public Radio reports (http://bit.ly/2rsxOwm) Sutton showed state officials documents in 2014 that he said suggested improper use of investor funds. The Securities and Exchange Commission in 2016 accused Jay Peak owner Ariel Quiros of Miami and former president Bill Stenger of misusing $200 million raised from foreign investors. Stenger has settled with the SEC. Quiros’ lawyers have said he will be cleared of wrongdoing.
The state said Wednesday that it had not yet received the complaint.