Man ordered to stop selling shares in ski resort
BOULDER — Colorado securities regulators have ordered a man hoping to open a ski resort on Pikes Peak to stop offering investments in the project.
Colorado Securities Commissioner Fred Joseph says John Ball entered into a cease-and-desist order with regulators over investments in the proposed ski area on 320 acres on the west side of the mountain. Ball is the CEO of The Resort at Pikes Peak, LLC, also named in the order.
Ball is the former chief executive of Boulder-based broadband company Eller Industries. He announced the project in 2008 and hoped to break ground by this year.
Joseph says Ball failed to properly register an investments opportunity in the resort offered on the Internet or advise investors about the risk of the real estate deal.