Businessman drops appeal for $ 32.5 million investor deal in Vt. Resort

Law360 (September 7, 2021, 4:04 p.m. EDT) – A Miami businessman accused of stealing $ 50 million from immigrant investors in Vermont’s Jay Peak ski resort drops his appeal of a recently approved settlement with the law firm Mitchell Silberberg & Knupp LLP which is expected to pay its alleged victims more than $ 30 million, according to his lawyer.

U.S. District Judge Darrin P. Gayles in Miami on Monday issued a paperless order demanding that the alleged mastermind of the fraud, Ariel Quiros, post a $ 250,000 bond if he wanted to appeal the settlement’s approval by the district court before the Eleventh Circuit, but Quiros’ lawyer said on Tuesday that his client had already submitted …

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