Jay, Burke and EB-5

BURKE, Vt.

A developing story in the Northeast Kingdom where the EB-5 visa program is under scrutiny. It appears some kind of investigation is going on at Q Burke and agents may be seizing some evidence.

We've been telling you about problems at the mountain. We told you about layoffs, about 180 people last week, mostly due to the lackluster ski season, but also because of the hotel and conference center. Some layoffs there, there was a problem with paying the contractors, still owing about $5 million.

Q Burke's president, Ari Quiros, told us that he was not hopeful that that mountain, that conference center would even open next season.

This all has to do with that federal program where people from out of the country are able to obtain visas to live here by investing in this economic development projects. There is Q Burke, there is Jay Peak resort and there is a lot of development that is planned for the city of Newport.

http://www.wcax.com/story/31717586/authorities-secure-property-and-change-locks-at-q-burke

Seems like they have company?

http://unofficialnetworks.com/2016/04/breaking-news-jay-peak-inc-busted-by-sec-as-a-ponzi-scheme

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

It ain't good:

Latest: Vt. and feds allege fraud at Q Burke

Man these guys are thieving bastards!

http://static.lakana.com/nxsglobal/mychamplainvalley/document_dev/2016/04/14/Quiros%2C%20Stenger%20Documents_8089711_ver1.0.pdf

The poop has finally hit the spinning blades.

I wonder if I should still buy a season pass for Jay next year? Deadline is May 9 for the early bird pricing. I can pay in Canadian money, which makes it a pretty good deal right now.

If this is proven, String these bastards up from one of highest trees in their  damn glades !!!
These pricks deserve the full brunt of the law ,make an example of them .

I read that the owner renamed Burke Q-Burke after himself? Does anyone else think that seems like sort of a douche move?

Does anyone actually call it that?

Yep, total douchenozzle move

Why can't ski areas just be ski areas anymore --- to hell with all these hotels and water parks

Yes Q named after one of the owners.

Steve Wright named GM.

I renamed the thread as I should have done originally.

http://www.wcax.com/story/31725401/federal-regulators-jay-peak-q-burke-owners-committed-massive-fraud

EDIT: SBR wait to buy the pass until after Jay declares bankruptcy.

Buddy of mine says they deserve it for lying about snow totals for years

Bernie's boat will be taking on some water.

Kind of f'up one of Sorrell's  statements in the beginning  was that "the defendants will face no jail time"

So you set up a corrupt program where rich foreigners buy their way into US citizenship. This is exactly what you get. A corrupt program yielding corrupt behavior. I would have expected nothing less. I believe Bernie would fix this shit.

PeeTex wrote

So you set up a corrupt program where rich foreigners buy their way into US citizenship. This is exactly what you get. A corrupt program yielding corrupt behavior. I would have expected nothing less. I believe Bernie would fix this shit.

Bernie was promoting it

skimore wrote

PeeTex wrote

So you set up a corrupt program where rich foreigners buy their way into US citizenship. This is exactly what you get. A corrupt program yielding corrupt behavior. I would have expected nothing less. I believe Bernie would fix this shit.

Bernie was promoting it

Didn't know that - I'll have to research it. It doesn't sound like something he would support as it is an unfair path to citizenship. You may be right and if you are, it is a disappointment but not a deal breaker.

Bernie front and center

http://vtdigger.org/2015/03/22/vtdigger-exclusive-state-suspends-approval-for-eb-5-funded-biotech-company/

skimore wrote

PeeTex wrote

So you set up a corrupt program where rich foreigners buy their way into US citizenship. This is exactly what you get. A corrupt program yielding corrupt behavior. I would have expected nothing less. I believe Bernie would fix this shit.

Bernie was promoting it

Why not? Really. He's been representing Vermont, people. Vermont. Business has sucked there for decades. Upstate NY has issues, but upstate NY has downstate NY to support it. And downstate NY has tons of foreign money, these days, propping it up. Vermont has no NYC and massive burbs. It has dairy farms and ski hills. So some foreigner thought he could buy a pass. Screw them. Take their money and fund the schools and hospitals.

Makes me miss those picnic tables at the old Stateside even more

raisingarizona wrote

I read that the owner renamed Burke Q-Burke after himself? Does anyone else think that seems like sort of a douche move?

Does anyone actually call it that?

Those of us that appreciate Burke for what it was before the development put a "Fa" before the formal name.

That may be the one good thing that comes of this... with Q out of the picture, it will surely be renamed to Burke. And at least we can all rejoice for that.

What a mountain. And wow what a troubled history that, I can't believe it, only continues to be more sordid every ownership change.

freeheeln wrote

Makes me miss those picnic tables at the old Stateside even more

Those were the days.

Photo by Harvey:

Harvey wrote

Steve Wright named GM.

Is that official?

Good grief, I wish Steve all the best with this. At least it is happening after the season has pretty much ended and going into the shoulder season. I can't imagine trying to manage peak season sales operations and try to slot into GM in the middle of a shit storm at the same time.