Vt. Governor Marks New Attraction at Ski Resort Hit by Fraud

Two years after an investment fraud rocked the Jay Peak ski area, the resort is celebrating the opening of a new attraction as it continues to recover from the fraud.

Vermont Republican Gov. Phil Scott on Wednesday marked the opening of the Clips and Reels Recreation Center that includes an indoor wall-climbing facility, movie theater and arcade.

The facility was built with funds from a settlement with Raymond James Financial Inc.

Earlier this month, Miami businessman Ariel Quiros reached a proposed settlement with the U.S. Securities and Exchange Commission in which he agreed to repay more than $81 million and give up ownership of Jay Peak and another ski resort.

Jay Peak also plans to build lacrosse and soccer fields with the funding.

Copyright AP - Associated Press
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