NEWPORT — In a letter issued to investors and creditors of Jay Peak on Friday, the receiver for the Jay Peak properties announced that Bill Stenger is no longer working at the resort.
“Please be advised that as of Friday, September 2nd, Bill Stenger is no longer an employee of Jay Peak, but instead Bill will provide assistance to the receiver on an as‐needed basis,” the letter, issued by Michael Goldberg reads.
On Thursday Stenger announced that he entered into a settlement with the Securities and Exchange Commission, which accused him and his partner of operating a multi-million dollar Ponzi-like scheme.
According to the settlement, Stenger agreed not to admit or deny any allegations that he aided and abetted the alleged fraud.
He may still have to pay a civil penalty.
“We thank Bill for his assistance over the past few months,” Goldberg wrote in the letter.