Pros­e­cu­tors se­cure guilty plea in $110M biotech scam at Ver­mont ski re­sort

The for­mer pres­i­dent at a Ver­mont ski lodge plead­ed guilty Fri­day as part of a failed scheme to build a biotech plant at the re­sort us­ing for­eign in­vestors’ mon­ey.

William Stenger ad­mit­ted to pro­vid­ing false doc­u­ments to a fed­er­al agency, the Jus­tice De­part­ment said, in a plan de­signed to raise $110 mil­lion from 220 im­mi­grant in­vestors to “con­struct and op­er­ate” a biotech fa­cil­i­ty at the Jay Peak Re­sort in New­port, VT. Stenger had been in­dict­ed with two oth­ers back in 2019 in the case.

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