Jay Peak bombshell

mister moose · Apr 29, 2022

thetrailboss said:
Hell no. Should have been 8 years. The LARGEST fraud in Vermont history. He has no remorse. He was a fraud from Day 1. He lied and used inappropriate funds to buy Jay. He hurt my former neighbors. It just shows that a fraudster can come to Vermont, complete pull the wool over the eyes of state regulators, make himself rich and get a slap on the wrist.

I agree that it would seem to warrant closer to the maximum end of the range, but 5 years in Federal prison is a long ways from "a slap on the wrist."

(He's likely eligible for serving 85% if he doesn't do anything else, which would be 4 years 3 months.)

deadheadskier · Apr 29, 2022

I don't know, 5 years for the largest fraud case in VT history certainly seems like a slap on the wrist to me. The average sentence for armed robbery nationally is 111 months. Quite frankly, I think Quiros crime is a bit bigger than robbing a gas station of a few hundred bucks.

But white collar criminals tend to get off light anyways.

ThatGuy · Apr 29, 2022

If some Joe Schmo from the NEK frauded people out of millions and set back the local economy by years then there would be much larger repercussions for him.

snoseek · Apr 29, 2022

What kind of facility is he gonna go to? Is it a country club or hardened criminals? And yeah 5 years is a fucking crime in itself imo

djd66 · Apr 29, 2022

ThatGuy said:
If some Joe Schmo from the NEK frauded people out of millions and set back the local economy by years then there would be much larger repercussions for him.

How did he set back the local economy? Am I missing something?

ThatGuy · Apr 29, 2022

djd66 said:
How did he set back the local economy? Am I missing something?

The millions of dollars enriched him and his cronies not the NEK. An economically depressed area that desperately needs new opportunities and rejuvenation.

djd66 · Apr 29, 2022

ThatGuy said:
The millions of dollars enriched him and his cronies not the NEK. An economically depressed area that desperately needs new opportunities and rejuvenation.

By no means am I trying to stick up for Q,… but he did not set back the local economy. He stole from immigrant investors.

ThatGuy · Apr 29, 2022

I know that but the whole idea behind it was to help the local economy

jaytrem · Apr 29, 2022

I guess in some ways he helped and hurt the local economy. He is responsible for the big hole in Newport, correct? That certainly hurts. He's also responsible for the new hotels at Jay/Burke along with a the waterpark, hockey rink, base lodge, etc. It was done in a shady illegal way, but that stuff brings people in, and who ever ends up with it has a nice head start for X amount on the dollar. Just like djd66 I'm in no way defending him. Very happy to see he'll be going away for a while. There's a similar thing going on in the Pinball world, gives me some hope that the results will also be similar.

JoeB-Z · Apr 29, 2022

Absolutely no remorse. He can't even bring himself to actually apologize. "“I deeply regret being involved in this case,” Quiros said". As in, he regrets getting caught.

NYDB · Apr 29, 2022

Wait........there is a Pinball world? and it's got financial scandals ?

deadheadskier · Apr 29, 2022

What about his tool son? Junior surely had knowledge and involvement

NYDB · Apr 29, 2022

ThatGuy said:
I know that but the whole idea behind it was to help the local economy

yeah I'm not sure what there isn't to get here.

Stealing from foreign investors and fucking with the local economy aren't mutually exclusive.

jaytrem · Apr 29, 2022

NYDB said:
Wait........there is a Pinball world? and it's got financial scandals ?

Oh yeah, pinball is hot right now. Even worse scandal, bogus company stealing from lots of retirees and others. Company called Deeproot. Plenty of scummy people out there for everyone's interests.

jaytrem · Apr 29, 2022

deadheadskier said:
What about his tool son? Junior surely had knowledge and involvement

Maybe they can give him the extra 3 that dad didn't get.

Dickc · Apr 29, 2022

jaytrem said:
Oh yeah, pinball is hot right now. Even worse scandal, bogus company stealing from lots of retirees and others. Company called Deeproot. Plenty of scummy people out there for everyone's interests.

Had to go look that one up. Here is the article I found: Link

thetrailboss · Apr 29, 2022

djd66 said:
How did he set back the local economy? Am I missing something?

There's a giant hole in the middle of Newport, Vermont. That's one thing.

thetrailboss · Apr 29, 2022

jaytrem said:
I guess in some ways he helped and hurt the local economy. He is responsible for the big hole in Newport, correct? That certainly hurts. He's also responsible for the new hotels at Jay/Burke along with a the waterpark, hockey rink, base lodge, etc. It was done in a shady illegal way, but that stuff brings people in, and who ever ends up with it has a nice head start for X amount on the dollar. Just like djd66 I'm in no way defending him. Very happy to see he'll be going away for a while. There's a similar thing going on in the Pinball world, gives me some hope that the results will also be similar.

Jay may be sustainable. But is Burke with a $55 million hotel?

jaytrem · Apr 29, 2022

thetrailboss said:
Jay may be sustainable. But is Burke with a $55 million hotel?

The hotel cost the investors $55 million. The new buyer will probably get the whole place for who knows what? Maybe $10 million? Same deal with the Hermitage. The members were able to buy the whole place for about the cost of a bubble chair. Gives the new owners a big head start, but sucks for the EB-5 investors.

snoseek · Apr 29, 2022

jaytrem said:
The hotel cost the investors $55 million. The new buyer will probably get the whole place for who knows what? Maybe $10 million? Same deal with the Hermitage. The members were able to buy the whole place for about the cost of a bubble chair. Gives the new owners a big head start, but sucks for the EB-5 investors.

To operate a hotel like that would be a burden for a place like burke imo. Then again the summer crowd might even things out a bit.

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