Rocked by a massive fraud scandal, Vermont’s Jay Peak Resort is reportedly faced with cash problems and a needed $4 million dollar gondola repair, which could jeopardize the resort’s operations.
Earlier this month, The United States Securities and Exchange Commission announced it was bringing fraud charges against and freezing the assets of Vermont’s Jay Peak Ski Resort, saying the resort’s owners engaged in a massive fraud scheme for eight years.
Now, according to an article on BurlingtonFreePress.com, the attorney responsible for Jay Peak says the resort has very little cash available and has many upcoming expenses. The attorney, Michael Goldberg, says if money is not obtained, it could mean shutting down operations at Jay Peak.
However, Goldberg pledged to find a way to keep Jay Peak open.