SEC Settles With Jay Peak Water Park Contractors For $225K

Law360, New York (January 23, 2018, 10:08 PM EST) -- Five companies involved in the U.S. Securities and Exchange Commission’s $350 million EB-5 visa fraud suit against Jay Peak ski resort owner Ariel Quiros have agreed to pay $225,000 to settle claims related to the resort’s indoor water park.

Black River Design Architects PLC, DEW Construction Corp., VHV Co., FabricAir Inc. and Ramaker and Associates Inc. will each pay $45,000 to the Vermont resort’s court-appointed receiver, Michael I. Goldberg of Akerman LLP. The deal covers most of a $296,000 construction project to replace the suspension system for the water park’s overhead heating, ventilation and air conditioning ducts, and releases the five...

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