Uh oh...Jay Peak owner pulls a fast one on EB-5 investors

[klondick]

I would love a Killington/Jay pass... Hint hint.

After several years of the Max Pass add-on this IKON pass does not seem worthwhile.

[DES]

I would love a Killington/Jay pass... Hint hint.
.

Sign me up for that also, and how about a black-out version!

[hillbangin]

Sale announced:

https://vtdigger.org/2018/02/14/jay-pea ... arket-may/" onclick="window.open(this.href);return false;

It's not clear what selling Jay and Burke "together" means. At the same time? Or as a combined entity?

It's not uncommon to solicit bids both ways and take the highest net.

I'll bet Vail buys them both. Will lock down the upstate New York and some of the Boston market, along with getting most serious skiers in northern VT on the epic pass.

It will be a huge upset if they don't.

Vail is the only one that will put the money in up there. That hill needs help - Gondi, Snowmaking etc.

[Highway Star]

Are they willing to invest in snowmaking infrastructure at both places to bring them closer to Stowe? Also they would then own another of the major Canadian markets, with Montreal only 90ish miles from Jay Peak.

Without a doubt they are watching the situation and running numbers.

I was thinking that but forgot to mention it. The Montreal market very big for northern VT, I've run into people at Stowe coming down from Canada. Having Jay on the Epic pass would probably reduce pressure on Stowe.

[Bubba]

Quiros’ lawyers attack state over asset freeze bid; state attorney fires back
By Alan J. Keays
Mar 7 2018


https://vtdigger.org/2018/03/07/quiros- ... -286700865" onclick="window.open(this.href);return false;

[SnoBrdr]

From WCAX:

MONTPELIER, Vt. (WCAX) Former Gov. Peter Shumlin stayed at a luxury New York City apartment owned by Ariel Quiros, the man at the heart of the EB-5 Kingdom Con case.

VTDigger reports that Shumlin stayed at the apartment for several days in May 2013 and in June 2014 without paying. Quiros bought the luxury condo with money from EB-5 investors. The Securities and Exchange Commission last month ordered him to pay $81 million in assets and $1 million cash for his part in the swindle. Federal officials are in the process of selling the condo, Jay Peak and Burke Resorts, and other assets to repay investors.

Shumlin administration officials are at the center of a lawsuit by EB-5 foreign investors. They claim the state-run agency responsible for overseeing the federal visa program for foreign investors was grossly negligent in overlooking Quiros' alleged Ponzi scheme. Vermont officials argue the state is immune from such legal actions. A hearing in that civil case is scheduled this afternoon in Vermont Superior Court in Hyde Park. Attorneys for investors are expected to lay out new accusations against state officials.

A federal criminal investigation into Quiros is also still underway.

[brownman]

When will Leahy feel the heat on this ?

[SnoBrdr]

AG says state has no records of EB-5-related sex crime allegations

From WCAX: There are new explosive allegations against an unnamed state official, and now Vermont's attorney general wants to see the evidence supporting those claims. The claims were made by attorney Russell Barr who is representing a group of investors suing the state for their handling of the EB-5 scandal.

http://www.wcax.com/content/news/AG-say ... 37383.html

[Bubba]

EB-5 fallout: Vermont wants what's left of Quiros' assets to salvage state's reputation
Dan D'Ambrosio, Free Press Staff WriterPublished 8:30 p.m. ET March 25, 2018

https://www.burlingtonfreepress.com/sto ... -286700865" onclick="window.open(this.href);return false;

Who Is Russell Barr? A Look At The Lawyer Representing EB-5 Investors
By Emily Corwin • Mar 23, 2018

http://digital.vpr.net/post/who-russell ... 5#stream/0" onclick="window.open(this.href);return false;

[Bubba]

Quiros says state EB-5 officials have ‘unclean hands’
By Anne Galloway

Mar 30 2018


https://vtdigger.org/2018/03/30/quiros- ... -286700865" onclick="window.open(this.href);return false;

[Bubba]

Vermont judge freezes Quiros’ assets in EB-5 case

https://vtdigger.org/2018/04/05/vermont ... -286700865" onclick="window.open(this.href);return false;

[Bubba]

Quiros cedes another piece of property

https://www.usnews.com/news/best-states ... -286700865" onclick="window.open(this.href);return false;

[Bubba]

On first look, this case seems a bit of a stretch.

https://vtdigger.org/2018/06/10/receive ... -286700865" onclick="window.open(this.href);return false;

[Bubba]

Jay Peak Investors Sue Two Attorneys

https://vtdigger.org/2018/06/29/jay-pea ... -286700865" onclick="window.open(this.href);return false;

[SnoBrdr]

http://www.wcax.com/content/news/Feds-o ... 06441.html