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Judge signs off on Utah company's $76 million bid to purchase Jay Peak Resort in Vermont
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A federal judge has approved a Utah-based resort company's $76 million bid to buy Jay Peak Resort, the Vermont ski area that was at the center of a financial scandal involving its former owner and president.
Pacific Group Resorts, which owns five ski areas, last week won the auction to buy Jay Peak. A federal judge in Miami approved the bid on Friday.
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Former Jay Peak owner Ariel Quiros, former president William Stenger and an adviser to Quiros were sentenced this spring to federal prison for their roles in a failed plan to build a biotechnology plant using tens of millions of dollars in foreign investors’ money raised through a special visa program.