Q gets 5 years in the clink!
https://www.wcax.com/2022/04/29/kingdom ... -pTYIqqDhg
Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
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hillbangin
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Got off easy.
At least he got the water park built. They really needed that up there.....
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
The article states he "pocketed $50 million" and had to pay $8 million in restitution. Very simple math, but it appears he's netting $42 mil in exchange for 5 years in prison. I'd take 3 hots and a cot for $8 mil/year for 5 years.hillbangin wrote: ↑Apr 29th, '22, 15:07Got off easy.
At least he got the water park built. They really needed that up there.....
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Mister Moose
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
The $50 million was pre SEC intervention. Rmember the spaghetti chart? He then surrendered $80 mil:
"Quiros and Stenger settled civil charges with the SEC, with Quiros surrendering more than $80 million in assets, including the two resorts."
Quiros provided financial statements as part of the process. You can be sure he wasn't left with $50 million. I remember reading his net worth was barely a few million pre Jay Peak, and that essentially all of his subsequent assets were seized.
Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Hence my “simple math” comment. He probably still got off too easy.Mister Moose wrote:The $50 million was pre SEC intervention. Rmember the spaghetti chart? He then surrendered $80 mil:
"Quiros and Stenger settled civil charges with the SEC, with Quiros surrendering more than $80 million in assets, including the two resorts."
Quiros provided financial statements as part of the process. You can be sure he wasn't left with $50 million. I remember reading his net worth was barely a few million pre Jay Peak, and that essentially all of his subsequent assets were seized.
Never argue with idiots. They will bring you down to their level, then overwhelm you with their experience.
"I have noticed that when you post, you often say more about yourself than the topic you chose to speak about." -The Suit
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Bubba
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Some of his comments stretch credulity
In exclusive interview, Bill Stenger discusses regrets in EB-5 investment fraud scandal
Vermont Public Radio | By Liam Elder-Connors
Published June 3, 2022 at 10:47 AM EDT
https://www.vpr.org/vpr-news/2022-06-03 ... _6_3_2022)
In exclusive interview, Bill Stenger discusses regrets in EB-5 investment fraud scandal
Vermont Public Radio | By Liam Elder-Connors
Published June 3, 2022 at 10:47 AM EDT
https://www.vpr.org/vpr-news/2022-06-03 ... _6_3_2022)
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Just when you think it’s over, Quiros asks for reduced sentence.
https://www.wcax.com/2022/12/22/ariel-q ... -sentence/
https://www.wcax.com/2022/12/22/ariel-q ... -sentence/
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
What, is he dying from some dread disease? he got off easy, potential sentence was much more as i recall.
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Mister Moose
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Here's the letter to the court: https://webpubcontent.gray.tv/wcax/docs/Quiros.pdf
a lot of me +me, my + my. a hollow apology at best, mostly to the court no less, barely to the victims. i'm un-moved, hope the judge feels the same.
a lot of me +me, my + my. a hollow apology at best, mostly to the court no less, barely to the victims. i'm un-moved, hope the judge feels the same.
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Bubba
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
"Abandon hope all ye who enter here"
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Killington Zone
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Glad you're staying on this. from the article:
Shumlin was “our most powerful and effective investment solicitor,” Stenger said. The governor attended EB-5 immigrant investor events in the United States and internationally. In those meetings, Shumlin made it a practice to “describe the state's role in the VRC-Jay Peak relationship as that of an auditor,”
he may be 'not entirely wrong', but too late. he could've walked away at anytime, instead, he likely took advice from that pos quiros and stuck with it.
zero sympathy.
Shumlin was “our most powerful and effective investment solicitor,” Stenger said. The governor attended EB-5 immigrant investor events in the United States and internationally. In those meetings, Shumlin made it a practice to “describe the state's role in the VRC-Jay Peak relationship as that of an auditor,”
he may be 'not entirely wrong', but too late. he could've walked away at anytime, instead, he likely took advice from that pos quiros and stuck with it.
zero sympathy.
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
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Bubba
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Stenger wants to reduce his restitution payment by $250K.
https://vermontbiz.com/news/2023/april/ ... 00-payment
https://vermontbiz.com/news/2023/april/ ... 00-payment
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Bubba
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Re: Uh oh...Jay Peak owner pulls a fast one on EB-5 investors
Government responds to Stenger’s request to void restitution order.
https://vtdigger.org/2023/05/03/prosecu ... ion-order/
https://vtdigger.org/2023/05/03/prosecu ... ion-order/
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