Vermont Business Magazine Michael I Goldberg, the Receiver for Jay Peak, Inc and related entities, announced today that, in light of his recent indictment, Bill Stenger is no longer an independent contractor of the receivership estate or Jay Peak, Inc. In the statement, Goldberg said, "The Receiver stresses that Mr. Stenger’s termination should not be interpreted as an indication that the Receiver believes that William Stenger did anything wrong and, in fact, a forensic accounting performed by the Receiver’s professionals early in the case failed to uncover any funds wrongfully diverted to Mr. Stenger. The Receiver’s decision to terminate Mr. Stenger at this time is simply based on the Receiver’s opinion that it would not be appropriate to continue to retain Mr. Stenger in light of the recent indictment. The Receiver acknowledges that Bill Stenger was a very valuable resource to him over the past few years and that he worked tirelessly to assist the Receiver in many aspects of administering the receivership. The Receiver wishes Bill Stenger and his family well in this difficult time."
Stenger, as a consultant to Goldberg, was making $50 an hour. In an interview with the Burlington Free Press shortly after the indictments, Goldberg said Stenger's knowledge of how Jay Peak and Burke Mountain resorts operated had been helpful in many ways as Goldberg sought to run and eventually sell the properties. Goldberg said if he thought Stenger had benefited from the fraud he would have been terminated immediately.
The sale of at least Jay Peak could come by late summer, the Free Press reported.
Goldberg took over in April 2016 when the fraud case against resort owner Ariel Quiros, Stenger as president and, eventually, others was revealed by the state of Vermont and the SEC.
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Source: Goldberg. Fort Lauderdale, Florida – May 31, 2019