They raised money from EB5 investors and undertook a major expansion of the resort's facilities, adding, among other things, new hotels, condos, an ice rink and a water park.

[12] The following year, the resort agreed to pay the State of Vermont $105,000 for violating stormwater rules in polluting a stream while building a new golf course.

[4] Before the purchase of Jay, Quiros claimed that he needed to verify the existence of the $18 million already raised by Mount Saint-Sauveur through the EB-5 program.

[3][19] Separately from that program, but as part of its ongoing planning, the resort engaged in a three-way swap with the State of Vermont in 2010.

The resort relinquished its lease to a 418 acres (169 ha) parcel of nearby undeveloped forest back to the state and sold 166 acres (67 ha) to the Green Mountain Club to ensure that the nearby 3.5 miles (5.6 km) of Long Trail would have a permanent buffer from ski-area development.

[20] In 2010, $13 million worth of improvements at Jay were completed including an indoor ice arena, a parking garage, an enclosed beginners surface lift, and a new RFID ticketing system.

[21] The new facilities also include a spa, conference center, movie theatre and 33,000 square feet (3,066 m2) water park.

[23] In 2011, the resort agreed to pay an $80,000 fine to the United States Environmental Protection Agency for filling in 2 acres (0.81 ha) of wetlands to construct a golf course in 2004–2006, without a permit from the U.S. Army Corps of Engineers.

[25] By 2014, some EB-5 investors had complained to the Vermont Department of Financial Regulation (DFR) and the U.S. Securities and Exchange Commission (SEC) that the resort company had abruptly reclassified their investments.

They eventually found that Quiros had diverted millions of the dollars raised for his personal use and that Stenger had lied to investors and the SEC about, among other things, the status of some of the construction projects, some of which were never built, including a biotechnology plant in Newport, Vermont.

[5][27][28] The resort remained operational under management of an SEC-designated receiver, Michael Goldberg, and acting CEO Steve Wright, who was previously Jay Peak's marketing director.

[34][35] The sale was approved by the federal court, which ordered that approximately $70 million of the purchase funds were to be distributed to the defrauded EB-5 investors, representing about 40% of their original investments.

[44] In May 2016 the state raised concerns over the safety of the aerial tramway, which resulted in $4.5 million worth of electronic upgrades and carriage overhauls.

[45][46] To gain access to the lifts, an RFID system scans a chip embedded in a plastic card which is typically held in the skier's pocket.

Jay Peak has the largest average annual snowfall of any ski area in Eastern North America.

The resort states its annual snowfall at 359 inches (9.1 metres),[38] while the Zrankings ski resort data site calculates it at 322 inches, excluding October and May snow, writing: "Jay Peak's location near the northern tip of the Green Mountains and its proximity to large bodies of water means it often catches moist air.

As this moist air is forced upwards by the mountain's topography, it cools and condenses, leading to snowfall, a process known as orographic lift.

[10][21] Features at Jay include a league-sized hockey rink, the Ice Haus, with room for 700 spectators.