RANGELEY, Maine (AP) — The arrest of an Australian developer who has an agreement to buy Maine’s Saddleback Mountain ski resort is spurring a nonprofit to renew its efforts to buy the resort.
Saddleback Mountain Foundation Executive Director Crystal Canney said the group sees a path forward “and we are prepared to lead.”
Sebastian Monsour, CEO of the Majella Group, was arrested following an investigation into investment fraud in Australia. In Maine, the ski resort was closed for three straight seasons before owners Bill and Irene Berry announced a year ago that they were selling to Majella Group.
Critics have questioned Monsour’s intentions after he was quoted in Maine news reports as saying he was motivated by the EB-5 program that offers foreigners permanent residency if they invest in certain U.S. real estate projects.