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Judge says ex-Jay Peak president's $250,000 restitution will stand; Stenger appeals

Bill Stenger, the former Jay Peak President, has tried to strike down the $250,000 restitution order against him for his role in the AnC Bio fraud, an unbuilt project that raised over $80 million from 160 EB-5 investors. Stenger argues that newly revealed communications show the state of Vermont knew fraud was taking place. But a federal judge says that Stenger’s lawyers have had that information for over three years and that the issues they raise now were brought up at the sentencing hearing. Less than 24 hours after the judge’s decision, Stenger appealed.

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