Judge Approves Sale of Burke Mountain to Bear Den Partners for 115 Million

A U.S. District Court judge on Thursday approved the sale of Burke Mountain to Bear Den Partners LLC. It’s a decision that signals a successful conclusion of a court process that began in 2016 when the Securities and Exchange Commission charged former owner Ariel Quiros and manager Bill Stenger with running a Ponzi-like scheme and misusing $200 million raised from EB-5 investors. Michael Goldberg, the court-appointed receiver to manage the mountain and negotiate a satisfactory sale, found a buyer in the Bear Den partnership with a purchase price of $11.5 million.