Bill Stenger, Jay Peak’s former CEO and president who is awaiting trial on federal fraud charges, is asking a judge to allow him to have his passport back so he can make money.
But federal prosecutors are objecting to that request.
Stenger surrendered his passport in May when he was charged, along with two of his associates, including Ariel Quiros, Jay Peak’s former owner, on charges of wire fraud and making false statements to the government.
The criminal charges, according to the indictment, involved a failed project headed by Stenger and Quiros to build a $110 million biomedical research facility in Newport financed with funds raised through the EB-5 immigrant investor program.
Stenger has pleaded not guilty to the charges against him and was released on a $100,000 appearance bond. He was also ordered to give up his passport.
Days after the criminal charges were filed, Michael Goldberg, a court-appointed receiver now overseeing Jay Peak, fired Stenger from his job as a consultant to the receivership.
Brooks McArthur, Stenger’s attorney, filed a motion this week in federal court in Vermont asking the judge to allow his client to have his passport back.
Currently, the attorney wrote, Stenger is without income other than Social Security.
“Given this, Defendant is currently pursuing consulting opportunities – an area he is experienced in – in an effort to gain income to financially support his wife and himself,” McArthur wrote.
To pursue consulting opportunities, McArthur added, Stenger is finding that travel outside the United States is a main requirement.
“In order to accept any consulting job offers presented to him,” the attorney added, “Defendant would need to be able to represent that he has a valid passport and has the ability to travel outside of the United States if required to do so.”
McArthur wrote in the filing that Assistant U.S. Attorney Paul van de Graaf, who is prosecuting the case, objects to the request, and it’s the policy of the U.S. Attorney’s Office to object to international travel by those charged with serious offenses.
McArthur asked the court to set a hearing on the matter.
McArthur could not immediately be reached Thursday for comment. Van de Graaf, through a spokesperson, declined comment.
Read the story on VTDigger here: Stenger wants his passport back; prosecutors say no.