KillingtonZone.com

First EB-5 investors issued green cards after fraud charges

By Alan J. Keays
Oct 2 2017


https://vtdigger.org/2017/10/02/first-e ... dPcrImWx9A" onclick="window.open(this.href);return false;

Big surprise. Quiros & SEC can't agree on damages.

https://vtdigger.org/2017/11/09/quiros- ... gThpUFOmaM" onclick="window.open(this.href);return false;

Deal reached.

https://www.boston.com/news/skiing/2017 ... fraud-case

This was a crime, why aren't details being released? I know there are civil actions to short out the web of crimes, butt don't the people of Vermont have a right to know what's going on here?

Meanwhile the white collar criminals live a life much more extravagant than ....

In reversal, Vt. makes EB-5 legal records public

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

A new investigation

https://vtdigger.org/2018/01/17/auditor ... -286700865" onclick="window.open(this.href);return false;

Bubba wrote:A new investigation

https://vtdigger.org/2018/01/17/auditor ... -286700865" onclick="window.open(this.href);return false;

Yet still nothing criminal.

Bubba wrote:A new investigation

https://vtdigger.org/2018/01/17/auditor ... -286700865" onclick="window.open(this.href);return false;

Everytime I start to think MA has the WORST hacks...

Hoffer compared the audit he envisioned to telling a story, without passing judgment on the characters.

“I’m not interested in negligence and malfeasance,” he said, adding he wasn’t conducting a criminal probe. Again, Hoffer said, he saw it as telling the story.

SEC settlements for Quiros and Stenger. Criminal investigations continue, according to WCAX news story tonight.

http://vermontbiz.com/news/2018/februar ... -286700865" onclick="window.open(this.href);return false;

From WCAX story.

"A federal criminal investigation into the big swindle is still underway. The state is proceeding to build its case."

"In a settlement subject to court approval, Quiros agreed to be held liable for more than $81 million in disgorgement of ill-gotten gains plus a $1 million penalty, and he must forfeit approximately $417,000 in cash that was frozen after the SEC filed the case. Quiros also agreed to surrender ownership of the two condos and ski resort he purchased with investor funds and give up his stake in more than a dozen other properties, including the Jay Peak Resort. Under the proposed settlement, the properties would be turned over to the court-appointed receiver in the case for the purpose of selling them for the benefit of defrauded investors.

The SEC also announced that a business associate of Quiros, William Stenger of Newport, Vermont, agreed to settle the charges against him in the SEC's complaint. While Stenger was not alleged to have personally profited from the fraud, he agreed to pay a $75,000 penalty and be barred along with Quiros from participating in any future EB-5 offerings. Quiros and Stenger agreed to their settlements without admitting or denying the allegations in the SEC's complaint."


Sounds like we can expect a sale this summer.

EB-5 investors might get ‘green card’ after all

http://vermontbiz.com/news/2018/februar ... -286700865" onclick="window.open(this.href);return false;

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.

Mister Moose wrote: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.

Highway Star wrote: 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.

I won't bet against you on this one. The price may be too cheap to pass up.

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.