Timeline: Public Officials on NEK Projects, From Boom to Busted | Off Message
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Friday, April 15, 2016

Timeline: Public Officials on NEK Projects, From Boom to Busted

Posted By and on Fri, Apr 15, 2016 at 12:55 PM

On Thursday, public officials raced to distance themselves from Vermont native Bill Stenger and Miami businessman Ariel Quiros after federal and state investigators accused the men of running a Ponzi-like scheme. They bilked foreign investors in massive Northeast Kingdom development projects, regulators allege in lawsuits.

Yet for years, seemingly everyone in Vermont, from governors and senators to NEK residents, embraced the men. Stenger and Quiros promised to bring ski resorts, hotels, a conference center, a biotech plant, offices and stores to an economically depressed area. Who could resist?

Many stood by Stenger and Quiros even as a few dissident investors and news reporters began asking questions in recent years.

This compilation of public statements illustrates the meteoric rise and abrupt downfall of a scheme that was, regulators now allege, too good to be true.


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About The Authors

Mark Davis

Mark Davis

Bio:
Mark Davis is a Seven Days staff writer.
Andrea Suozzo

Andrea Suozzo

Bio:
Andrea is the digital editor at Seven Days. She spends most of her time behind the scenes keeping the website in order, crafting social media posts, writing newsletters and dabbling in code.

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