Green Card by Investment

Burke Mountain resort receives offer; receiver hopes to hold an auction for the fraud-mired property

The court-appointed receiver overseeing Burke Mountain ski resort in Vermont has received an offer to purchase the scandal-ridden property. The court filing did not disclose details of the bidder and the bid amount. The receiver, Michael Goldberg, intends to continue seeking qualified buyers. If other offers match or exceed the first offer, the property will be sold by auction. This process would mirror the one used by Goldberg to sell Jay Peak last year. Burke Mountain, along with Jay Peak, was part of the largest EB-5 fraud ever, with $200 million of investor money misappropriated, including $50 million spent on personal expenses of the developer Ariel Quiros. Proceeds from the Burke Mountain sale will be distributed to defrauded investors.

See the VTDigger story

Stay informed about EB-5 news.