Jay Peak bombshell

[BenedictGomez]

"Vermonters are trusting people" - U.S. Attorney for Vermont Christina Nolan

Ooooh, the Vermont Attorney said the quiet part out loud. I wasn't expecting that.

Thankfully she used a relatively soft adjective there.

 

[thetrailboss]

Ooooh, the Vermont Attorney said the quiet part out loud. I wasn't expecting that.

Thankfully she used a relatively soft adjective there.

Sad, but true, observation.

 

[thetrailboss]

And three years after the SEC action commenced, Stenger is finally let go from Jay/Burke.

https://vtdigger.org/2019/05/31/jay...KkEygP-JfkGy-28Jb1Uzf45yPCd7flXdvOZJMcKbee58g

 

[thetrailboss]

Bump.

What a joke.

https://vtdigger.org/2019/08/27/sta...il&utm_term=0_dc3c5486db-ef4f0a893f-405558657

"Russia, if you're listening, I hope you are able to find the [four months] of Emails that are missing!"

:lol:

 

[BenedictGomez]

Illinois & New Jersey better watch their back, Vermont's making a strong push for the title of, "Most Corrupt State in America".

 

[thetrailboss]

Illinois & New Jersey better watch their back, Vermont's making a strong push for the title of, "Most Corrupt State in America".

What is particularly disconcerting is that Vermonters actually believe that because it is a "small" state that folks can be trusted, and that there is "good government" in Vermont. Anyone who follows Vermont news in the last few years has no doubt seen that there is a rampant problem with people embezzling money in Vermont--from small towns, companies, employers, and other entities.

https://www.vpr.org/post/why-vermont-such-hotbed-embezzlement#stream/0

With this matter, those in power should have seen this as a "time out" moment to make sure that those who were responsible were held accountable and that Vermonters and others would see that the system "worked." Instead, perhaps because of Q's perniciousness, many in the Vermont government were at least very badly played. The fact that we are seeing evidence "go missing" only adds to the perception that those in power realize that this was a very big problem and that the way to handle it is to run away.

 

[BenedictGomez]

What is particularly disconcerting is that Vermonters actually believe that because it is a "small" state that folks can be trusted, and that there is "good government" in Vermont. Anyone who follows Vermont news in the last few years has no doubt seen that there is a rampant problem with people embezzling money in Vermont--from small towns, companies, employers, and other entities.

I'm well aware of this given the savagery I took on this board prior to the Jay Peak scandal breaking when I predicted there was a crime going on vis-a-vis what little information was publicly available regarding finance & accounting methods/occurrences. Those people, of course, have since disappeared to another dimension through a wormhole.

 

[thetrailboss]

I'm well aware of this given the savagery I took on this board prior to the Jay Peak scandal breaking when I predicted there was a crime going on vis-a-vis what little information was publicly available regarding finance & accounting methods/occurrences. Those people, of course, have since disappeared to another dimension through a wormhole.

I will admit to not wanting to be cynical initially, but the more I saw the more I began to get more concerned....

 

[mbedle]

I hear what you guys are saying, but what data exist that supports that Vermont has an embezzlement problem?

 

[thetrailboss]

I hear what you guys are saying, but what data exist that supports that Vermont has an embezzlement problem?

Cough, cough

What is particularly disconcerting is that Vermonters actually believe that because it is a "small" state that folks can be trusted, and that there is "good government" in Vermont. Anyone who follows Vermont news in the last few years has no doubt seen that there is a rampant problem with people embezzling money in Vermont--from small towns, companies, employers, and other entities.

https://www.vpr.org/post/why-vermont...ement#stream/0

See also:

https://vermontbiz.com/news/january/vermont-tops-list-highest-risk-states-embezzlement

https://vtdigger.org/tag/embezzlement/

https://www.forbes.com/sites/erikam...ly-to-embezzle-and-who-they-are/#2f6979021c3a

https://www.securitymagazine.com/ar...als-highest-rate-of-employee-theft-in-6-years

https://www.timesargus.com/news/vt-...cle_6e842116-e1ed-5013-9957-997a3be3cdae.html

Is that enough to suggest that there is a problem?

 

[mbedle]

Cough, cough



See also:

https://vermontbiz.com/news/january/vermont-tops-list-highest-risk-states-embezzlement

https://vtdigger.org/tag/embezzlement/

https://www.forbes.com/sites/erikam...ly-to-embezzle-and-who-they-are/#2f6979021c3a

https://www.securitymagazine.com/ar...als-highest-rate-of-employee-theft-in-6-years

https://www.timesargus.com/news/vt-...cle_6e842116-e1ed-5013-9957-997a3be3cdae.html

Is that enough to suggest that there is a problem?

Unfortunately no, I do not put too much weight on a bunch of articles summarizing a half ass report written in 2013, by a half ass company. Check out the author's greatest achievement: http://www.checkoutyourpartner.com

 

[thetrailboss]

Unfortunately no, I do not put too much weight on a bunch of articles summarizing a half ass report written in 2013, by a half ass company. Check out the author's greatest achievement: http://www.checkoutyourpartner.com

Sounds like you did not read past the first article. FWIW there are some credible news outlets there that all say the same thing--VT Digger, Forbes, Times Argus are all reputable outlets.

Look again. I think you will see that it is a real problem. But since you didn't read or look into it, here is a small sample of some of these cases that have come to light:

*Small town utility employee steals $1.26 million over a ten year period;
*Now former State employee admits to submitting over $100,000 in false reimbursements;
*Ira town clerk embezzles $400,000 over a multi-year period;
*Coventry town clerk embezzles $1.4 million from town over a decade;
*Another state employee charged with stealing identities and taking $15,000 in tax return money;
*Another state employee took $490,000 from welfare funds to be used for her clients;
*Another state employee used settlement fund to buy $217,000 in goods for herself such as a boat and guitar;
*In August 2019 a DMV employee charged with embezzling cash deposits she handled for the office.

Do I need to go on?

 

[Dickc]

Sounds like you did not read past the first article. FWIW there are some credible news outlets there that all say the same thing--VT Digger, Forbes, Times Argus are all reputable outlets.

Look again. I think you will see that it is a real problem. But since you didn't read or look into it, here is a small sample of some of these cases that have come to light:

*Small town utility employee steals $1.26 million over a ten year period;
*Now former State employee admits to submitting over $100,000 in false reimbursements;
*Ira town clerk embezzles $400,000 over a multi-year period;
*Coventry town clerk embezzles $1.4 million from town over a decade;
*Another state employee charged with stealing identities and taking $15,000 in tax return money;
*Another state employee took $490,000 from welfare funds to be used for her clients;
*Another state employee used settlement fund to buy $217,000 in goods for herself such as a boat and guitar;
*In August 2019 a DMV employee charged with embezzling cash deposits she handled for the office.

Do I need to go on?

They sound like Mass employees . Only in Mass, they do that in a year or less.

 

[BenedictGomez]

I hear what you guys are saying, but what data exist that supports that Vermont has an embezzlement problem?

Seriously? You need to get an education by going back & reading about 5 years worth of posts here.

 

[BenedictGomez]

Do I need to go on?

The Jay Peak example is so large & staggering that that's all you actually need.

 

[mbedle]

The Jay Peak example is so large & staggering that that's all you actually need.

And therein lies the problem. The old one bad apple spoils the whole bunch.

 

[mbedle]

Sounds like you did not read past the first article. FWIW there are some credible news outlets there that all say the same thing--VT Digger, Forbes, Times Argus are all reputable outlets.

Look again. I think you will see that it is a real problem. But since you didn't read or look into it, here is a small sample of some of these cases that have come to light:

*Small town utility employee steals $1.26 million over a ten year period;
*Now former State employee admits to submitting over $100,000 in false reimbursements;
*Ira town clerk embezzles $400,000 over a multi-year period;
*Coventry town clerk embezzles $1.4 million from town over a decade;
*Another state employee charged with stealing identities and taking $15,000 in tax return money;
*Another state employee took $490,000 from welfare funds to be used for her clients;
*Another state employee used settlement fund to buy $217,000 in goods for herself such as a boat and guitar;
*In August 2019 a DMV employee charged with embezzling cash deposits she handled for the office.

Do I need to go on?

LOL - everyone of those articles (except for the VT Digger embezzlement search link) is just a chewed up and spit back out again summary of the Marquet Report, with absolutely no independent thought or evaluation of the data.

 

[cdskier]

Unfortunately no, I do not put too much weight on a bunch of articles summarizing a half ass report written in 2013, by a half ass company. Check out the author's greatest achievement: http://www.checkoutyourpartner.com

LOL - everyone of those articles (except for the VT Digger embezzlement search link) is just a chewed up and spit back out again summary of the Marquet Report, with absolutely no independent thought or evaluation of the data.

Even if you have an issue with the report itself being "half ass", what about the specific examples cited? Are they not real or not relevant for some reason just because they were part of that report? (Although they weren't even all part of that report)

*Small town utility employee steals $1.26 million over a ten year period;
*Now former State employee admits to submitting over $100,000 in false reimbursements;
*Ira town clerk embezzles $400,000 over a multi-year period;
*Coventry town clerk embezzles $1.4 million from town over a decade;
*Another state employee charged with stealing identities and taking $15,000 in tax return money;
*Another state employee took $490,000 from welfare funds to be used for her clients;
*Another state employee used settlement fund to buy $217,000 in goods for herself such as a boat and guitar;
*In August 2019 a DMV employee charged with embezzling cash deposits she handled for the office.

 

[Domeskier]

Even if you have an issue with the report itself being "half ass", what about the specific examples cited? Are they not real or not relevant for some reason just because they were part of that report? (Although they weren't even all part of that report)

I'm no statistician, so I cannot comment on whether the report's conclusion and, in particular, it's trademarked (!) "Embezzlement Propensity Factor" are supported by the data, but a few examples of embezzlement and other financial fraud by committed by people in Vermont do not, by themselves, support a conclusion that people in Vermont are more disposed to commit financial crimes than people in other states. If the report is, as mbedle claims, half-assed, then the enumerated examples, while egregious, do not support any particular conclusion about the criminal tendencies of Vermont people.

 

[mbedle]

Even if you have an issue with the report itself being "half ass", what about the specific examples cited? Are they not real or not relevant for some reason just because they were part of that report? (Although they weren't even all part of that report)

Yes, I can acknowledge that the cases listed did indeed occur in Vermont. My point was to state that I don't believe that Vermont's citizens are more prone to or that the occurrence of embezzlement is any greater than any other state. Its all good and I love a good discussion no matter what the outcome may be.