Former Ski Resort Owner Seeks To Sell Airplanes

Oct 15, 2018

The former owner of a Vermont ski resort who was accused in a multi-million dollar fraud case is seeking federal permission to sell his three airplanes.

A filing in U.S. District Court in Miami shows Ariel Quiros has begun negotiations to sell the planes, which were disclosed to the Securities and Exchange Commission.

The Caledonian-Record reports the planes were not included in an asset freeze imposed during the scandal in 2016.

Quiros is the former owner of Jay Peak ski resort. He and its former president were accused of misusing more than $200 million raised through the state's EB-5 immigrant investor program.

Both men reached settlements with authorities.

Quiros was required to give up five properties in and around Jay Peak. Officials say the asset freeze may be lifted soon.

All contents © copyright 2018 Associated Press. All rights reserved.