Newfane, VT: A couple who sold their condominium rental business to a company that went out of business after only a year has been awarded $924,000 in their lawsuit. The couple alleged that SnowResorts Hospitality Group was sold to Allen Jones, Albert Miller III and Milestones Financial Services Inc. in 2004. However, the plaintiffs claimed that the defendants committed fraud and misrepresented Milestones' financial background.
According to the lawsuit, by the time the company went out of business, the sellers were only paid $100,000 of the $850,000 sale price. The plaintiffs were awarded $774,500 in compensatory damages and $150,000 in punitive damages.
