Stenger and Quiros Ousted from Management of Jay Peak and Burke

[VTKilarney]

The "I Stand With the Q" blog post is still on Q Burke's website. The new management company really needs to remove it.

Every time I see the article headline, I am reminded of this:

View attachment 20030

 

[River19]

Also from the article in the Cal-Rec is this quote from Steve:



Reading between the lines, that doesn't bode well for Q Jr at Burke. His track record for running a resort is exactly the opposite. I really hope he is either gone from Burke within the next month or completely marginalized. I think everyone is really hoping for the former. Ary Jr being off of the payroll would be a HUGE boost to the mountain's image both locally and region-wide.

Unfortunately, we are probably stuck with the "Q" name for the foreseeable future until the legal and financial mess that Ary Sr has created is unraveled and a new "corporation" takes over and can officially drop the "Q".

I agree 100%. I also can't see how he would want to stay or could stay, everyone in Vermont knows his whole modern existence from a professional standpoint is tied to one of the biggest farces in New England history.

Think Madoff's kids could have stayed around in the investment business if they weren't implicated (may they rest in peace)?

In both the short and long term, his daddy is not running Burke, and I don't see why anyone but daddy would have kept him there. I think the Range Rover will be heading down the hill for good within weeks.....and then hopefully repossessed.

 

[thetrailboss]

I agree 100%. I also can't see how he would want to stay or could stay, everyone in Vermont knows his whole modern existence from a professional standpoint is tied to one of the biggest farces in New England history.

Think Madoff's kids could have stayed around in the investment business if they weren't implicated (may they rest in peace)?

In both the short and long term, his daddy is not running Burke, and I don't see why anyone but daddy would have kept him there. I think the Range Rover will be heading down the hill for good within weeks.....and then hopefully repossessed.

The comparison between Madoff and Q is eerily similar. Both preferred to "remain in the shadows" and both were very proud of their "false" accomplishments.

 

[mister moose]

I don't think it's a crime if you saw a murder but not reporting it. Immoral but not criminal.

The phrase "accessory after the fact" comes to mind.

 

[River19]

Great show with Galloway and the State folks on VPR right now....rebroadcast at 7pm

 

[thetrailboss]

Great show with Galloway and the State folks on VPR right now....rebroadcast at 7pm

Yep. They are doing another one next week in the NEK on the impacts. Stay tuned.

 

[abc]

The phrase "accessory after the fact" comes to mind.

Only if one actively helps covering it up.

 

[thetrailboss]

And am going to post this......I don't think that the State is out of the woods on this one:

 

[mister moose]

Only if one actively helps covering it up.

If you assist after the fact with intent to help the perpetrator avoid getting caught. Does saying nothing assist Quiros? Probably something more useful to a prosecutor as leverage to get cooperation than to take to trial.

 

[abc]

Does saying nothing assist Quiros?

Although I'm not a lawyer, the basics about our law is you can't commit a crime without DOING something!

So, not doing something you morally should do isn't a crime. And I doubt any prosecutor will get much out of someone like that. Police perhaps, if they think they can get away with hinting the above to an uneducated individual. Once a lawyer is involve, there's no chance that tactic can work at all.

The exception of course, is for those who's job is to DO SOMETHING about criminal activity. A policeman who does nothing about a murder would be criminal.

 

[River19]

My question, and a question someone called into the VPR show with today is still around the legality of the ownership of both Jay and Burke. The question wasn't really answered as the courts need to weigh in but.......

If both Jay and Burke were bought with EB-5 funds, which broke the limited partnership agreements and violated damn near every SEC rule governing these investments........how can Quiros....or WILL Quiros still be considered the legal owner of both mountains? I can make an easier case for a number of Chinese would be immigrants being share owners of the mountains instead of Quiros. Their money was used without their knowledge to buy them.

If I buy a car illegally with money I control from say the local school committee, do I technically still own the car when the fit hits the shan?

 

[jaytrem]

Although I'm not a lawyer, the basics about our law is you can't commit a crime without DOING something!

I guess you never saw the last episode of Seinfeld.

 

[JoeB-Z]

VPR has an article and a link to Quiros' original SEC deposition, a year before VT started investigating.

http://digital.vpr.net/post/documents-show-feds-were-quiros-long-state-launched-probe#stream/0

 

[from_the_NEK]

VPR has an article and a link to Quiros' original SEC deposition, a year before VT started investigating.

http://digital.vpr.net/post/documents-show-feds-were-quiros-long-state-launched-probe#stream/0

From the depositions, it sounds like he thinks he made the money trail so difficult to follow that he doesn't think they would ever be able to bring charges.

The fact that he starts blaming the beginning of this fiasco on state legislators "begging" him to buy Jay Peak is ridiculous as well. They may have been begging him but I have a feeling he knew he could take advantage of their desperation.

 

[VTKilarney]

You can see his defense strategy: Blame his money handlers. I especially like how he threw William Kelly under the bus.

Don't forget that if he lied under oath he could face criminal charges for that alone.

 

[VTKilarney]

From Quiros' deposition:
Q: Okay. Could you take me through the
different types of fees you would be entitled to
for each project?

A: I cannot give all of the details. I
know of the construction fees, supervision fees,
architectural fees, permitting fees, a lot of
fees.

 

[from_the_NEK]

a lot of
fees.

He left out the TTCSF fee.


aka Trump Tower Condo Slush Fund Fee

 

[VTKilarney]

Later in the deposition he says that his profit was about 20% of what was invested. This is what boggles my mind. He could have pocketed his 20% and been a very rich man. But allegedly that was not good enough.

Another interesting tidbit from the deposition is that Quiros apparently gave Stenger a 15% equity stake in Jay Peak, only to later take it away.

I've read about 20% of the deposition, and my eyes are glazing over. That's enough for me.

 

[thetrailboss]

I've skimmed some of that deposition and he sounds crazy. He also cannot lie very well. His explanation as to how he got the money to buy Jay Peak makes no sense at all.

 

[yotefan]

Does Ary count? How is he still employed? If Mike Pappalardo's employment was considered a conflict of interest, how is Ary's not?