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April 17, 2017
MONTPELIER, Vt. — A year after the owner and president of a Vermont ski resort were accused by the state and the U.S. Securities and Exchange Commission of massive fraud, a $150 million settlement has been reached with a financial institution, Republican Gov. Phil Scott announced last week.
The federal receiver overseeing Jay Peak ski resort said he signed a settlement agreement with Raymond James Financial Inc. that will be filed in court this week. A federal judge still must approve the settlement.
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