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

[skiadikt]

Snowing on Jay Peak with the last few days total adding up to enough to open many of the tree runs. It is so nice to be able to make turns without hearing the sound of metal on ice. Staying at Hotel Jay for the weekend with the Mountain Dew Race Crew. Great fireworks, waterpark and powder skiing. Jumped on the first tram Sunday to grab as many powder tree shots that we could find before returning back to Killington. Made it back home in time to close out the Peak Lodge and ride the Canyon Quad for last time this season. Surviving the death ice sheets in the canyon was a far different feel then the way day started.

Grade (Jay) A-

Quote of the Day - With a short commute a Jay/Killington day can be done.

jay is up to 206" for the season. not fair ...

[ME2VTSkier]

Bahaha!

Authorities on Site at Q Burke
Offices have reportedly been secured and locks changed.

http://www.newenglandskiindustry.com/vi ... toryid=421

[freeski]

http://www.burlingtonfreepress.com/stor ... /83004948/" onclick="window.open(this.href);return false; "Four state officials including the governor, attorney general and two top regulatory officials are planning a news conference Thursday to discuss developments at Q Burke ski resort in the Northeast Kingdom" Bringing the governor and attorney general up to the mountain for a press conference... not good.

[eagle628]

[skidogg]

i am shocked to find gambling hear

[brownman]

This morning's development...
Farmed the project out to a Resort Mgmt Company in Kansas City
Stenger and Q have lost controlling interest.

http://www.wcax.com/story/31723261/outs ... ak-q-burke

[Mister Moose]

Reports of securities fraud, diversion/mis-use of $200 million, use of $50 million for personal expenses by Quiros, among other charges.

Not good for Burke, JPR, or the Northeast Kingdom.

[brownman]

... where's my Green Card

http://www.sec.gov/news/pressrelease/2016-69.html

[Seacoaster]

Hard to believe anything went run in a govt allowed ponzi scheme to buy visa's for the rich tax sheltering Canadians.

[SnoBrdr]

Hard to believe anything went run in a govt allowed ponzi scheme to buy visa's for the rich tax sheltering Canadians.

It's mostly Chinese they claim.

http://www.latimes.com/local/la-me-0830 ... story.html

http://www.eb5investors.com/blog/where- ... try-trends

[Mister Moose]

Steve Wright named to be the new GM at Jay, and a professional resort/hotel management company specializing in receiverships is placed in control of both Jay and Burke.

Congrats to Steve, who was recognized as being the choice to operate Jay during this tumultuous time. Jay has announced they will continue operating normally this spring, with the usual late season push.

[freeski]

Paying personal taxes with EB-5 money, not good. I think my favorite part of the fraud is the $3M for the Trump Condo. Is there a more lavish way to spend your ill gotten EB-5 loot? I never thought the fraud would be this bad. How did they think they could run a Ponzi scheme in a government program (although it worked for 8 years). I hope the ski areas can make a successful transition to a private owner.

[freeski]

Saw this chart on AZ. Okay now I see what happened...not. you can zoom in on it.http://www.dfr.vermont.gov/sites/defaul ... s-map.html" onclick="window.open(this.href);return false;

[Big Bob]

It sounds like this SEC investigation has been going on for some time based on all the info on the web. My guess is Mr Q is the bad guy and Bill drank the koolaid and now both of them have a good chance of spending some time behind bars in a fed country club pen somewhere. I hope the contractor gets his lien paid off, but the assets may get confiscated by the feds and the state. Good luck to them!

[SnoBrdr]

It sounds like this SEC investigation has been going on for some time based on all the info on the web. My guess is Mr Q is the bad guy and Bill drank the koolaid and now both of them have a good chance of spending some time behind bars in a fed country club pen somewhere. I hope the contractor gets his lien paid off, but the assets may get confiscated by the feds and the state. Good luck to them!

The places people like this get sent to are not Club Fed.

They end up in a Federal Penitentiary to start out with.