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AP National Business

Former ski resort exec pleads guilty to 1 charge, 9 dropped

KIFI
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Published 2:20 PM

By LISA RATHKE
Associated Press

BURLINGTON, Vt. (AP) — A former Vermont ski resort president has pleaded guilty to providing false documents during a failed plan to build a biotechnology plant in Newport using tens of millions of dollars in foreign investors’ money. In exchange for the guilty plea from William Stenger, the former president of Jay Peak Resort, the federal government dropped nine other fraud charges. The 72-year-old faces up to five years in prison. Last year, former Jay Peak and Burke Mountain owner Ariel Quiros pleaded guilty to conspiracy to commit wire fraud, money laundering and the concealment of material information. Nine other charges against him were also dropped.

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