Jay Peak bombshell

drjeff said:

Anyone get the feeling, that since there are seemingly obviously numerous VT government officials involved with the oversight of the fraud in this one, that the delay tactic, so that it ends up so off the radar of the average person and the media scrutiny, is going to continue to be used so that by the time some likely behind the scenes negotiated deal for just a proverbial slap on the wrist, is announced, that it will all go away without any appropriate punishment for the players as well as the regulatory folks?

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drjeff said:

Anyone get the feeling, that since there are seemingly obviously numerous VT government officials involved with the oversight of the fraud in this one, that the delay tactic, so that it ends up so off the radar of the average person and the media scrutiny, is going to continue to be used so that by the time some likely behind the scenes negotiated deal for just a proverbial slap on the wrist, is announced, that it will all go away without any appropriate punishment for the players as well as the regulatory folks?

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VTKilarney said:

It's looking even worse for the State of Vermont:

‘Aided and abetted’: Newly unsealed records show state feared its own culpability in EB-5 fraud - VTDigger

Roughly 600 pages of records unsealed in federal court last week provide new details about the lengths to which Vermont state officials went in concealing the Northeast Kingdom fraud from investors, the public and the press.

vtdigger.org

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VTKilarney said:

It's looking even worse for the State of Vermont:

‘Aided and abetted’: Newly unsealed records show state feared its own culpability in EB-5 fraud - VTDigger

Roughly 600 pages of records unsealed in federal court last week provide new details about the lengths to which Vermont state officials went in concealing the Northeast Kingdom fraud from investors, the public and the press.

vtdigger.org

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drjeff said:

So lets get the betting pool started, does Gov Scott go back against his recent, and seemingly very reasonable, science based, COVID restriction loosenings back into full panic mode? Or start talking up the non citizens voting in municipal elections in Montpelier and Winooski as a distraction/deflection from what is now seemingly more and more like it was state complicit supervision of the the Jay/Burke EB-5 corruption scandal?

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thetrailboss said:

Yeah but that didn't happen on his watch. It was all Shummy.

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drjeff said:

True, but I am guessing that many of the government oversite folks implicated are long time employees of the state and as such, reagrdless of the change at the top, "must be protected for the good of society....." or some other similar politcal speak to attempt to justify their actions.....

Or even if they aren't "protected" by the current folks running Montpelier, they will probably get sometype of paid leave that will cover the time they need to get a full pension, or something akin to that.....

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In the newly disclosed emails, Kessler discussed the risk to the state of allowing the AnC Bio project to move forward as the SEC weighed the possibility of taking action to shut it down.

“In this context,” Kessler wrote to Humbert, London, Moulton and Raymond, “it seems prudent to me to consider the risk of the SEC finding that the Vermont Regional Center did not take reasonably available steps to protect investors through omission, or worse, that the state by act or omission ‘aided and abetted’ fraud as the SEC found in other enforcement actions.”

Humbert, in a Feb. 11, 2015, reply to Kessler, wrote that the attorney general’s office did not have any lawyers with expertise in the EB-5 program, securities law or SEC investigations, “so we are unable to provide you with legal advice in these highly specialized areas.”

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thetrailboss said:

Those most culpable--Shumlin, Raymond, Moulton, Sorrell--have either retired or moved on to the next cushy state gig. Completely unacceptable.

And this proves one of BG's points:



Complete amateur hour.

No serious investor or corporation will want to do business in Vermont for some time. All the talk about regulations mean nothing if fraudsters are allowed and encouraged to do business in Vermont.

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drjeff said:

The part that will most annoy me, and should annoy everyone if it happens, is that purely on preferred ideology of those in charge at the time, there inevitably will be some in the general public being OK if those implicated in this fraud just get a slap on the wrist.

This era where we're in where some are inclined to simply look the otherway when wrong doing happens just simply because those who did the wrong doing are on their same "ideologocal team" is just not OK. Wrong is wrong, and ideology shouldn't play into the potential repercussions

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4. Court documents show Jay Peak leaders "actively engaged" in sale discussions​

AdironRider said:

So now that we have reached the throw everyone else under the bus to save your own ass part of the story, has it come out yet how exactly Stenger profited from this whole thing?

I mean, I get how the VT officials would be incentivized, and obviously Quiros, but I still struggle with how Stenger was really making a mint off any of this other than the paycheck he was already getting to begin with.

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jimmywilson69 said:

Jay Peak ski resort's leaders are "actively engaged" in sale discussions with several potential buyers, according to recently filed court documents.

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