Stenger and Quiros Ousted from Management of Jay Peak and Burke

[thetrailboss]

http://vtdigger.org/2016/08/19/jay-peak-ceo-asks-court-filing-extension/

Stenger has been cooperating with the SEC over the past four months and remains a fixture at the resort where he issues memos to staff, ushers guests and potential new investors around and draws a $100,000 a year salary. In addition, he uses a condo at Jay Peak, drives a luxury Audi paid for by the resort, and fills up his gas tank with company petrol.

Welcome to April.

 

[freeski]

If what SB1 is saying is true and Stenger knew about the fraud then this is BS. I'm sure he's a nice guy and all, but if there's evidence he knew he shouldn't be allowed to step foot on the properties. Has VT filed there own criminal charges? Is VT trying to drag this out so "the children call him Big Nose" is gone?

 

[steamboat1]

If what SB1 is saying is true and Stenger new about the fraud then this is BS.

I didn't say anything. That was quoted straight from the article I posted.

 

[freeski]

So Stenger is working there. I've seen other reports also. Do the people working for the government think he didn't know about the Ponzi scheme? If they think there's a chance he knew he shouldn't be working there.

 

[BenedictGomez]

So Stenger is working there. I've seen other reports also. Do the people working for the government think he didn't know about the Ponzi scheme? If they think there's a chance he knew he shouldn't be working there.

Stenger's guilty as hell.

You'd need to apply the same level of willing-suspension-of-disbelief that's required when watching a Marvel Comics movie to believe Stenger had no idea about what was going on.

The fact that Stenger still has a relatively active "support" role and isn't being "mud-raked" in the open media like Quiros, is, IMO, great evidence that Stenger is singing like a canary and dishing the goods on Quiros, who is the primary target/crook in this caper.

 

[steamboat1]

Stenger has been cooperating with the SEC over the past four months and remains a fixture at the resort where he issues memos to staff, ushers guests and potential new investors around and draws a annual $100,000 a year salary.

Quiros is allowed $15,000 a month living expenses.

Who's better off?

 

[mbedle]

The fact that Stenger still has a relatively active "support" role and isn't being "mud-raked" in the open media like Quiros, is, IMO, great evidence that Stenger is singing like a canary and dishing the goods on Quiros, who is the primary target/crook in this caper.

You nailed that on the head...

 

[skiberg]

Sounds to me like the Fed's are after Quiros criminally. Fed's take a long time to build a case and do an excellent job at it. The Civil liability is not the biggest deal to the Defendant's, but if the Fed's charge anyone criminally, they are screwed. Fed's win over 95% of cases they prosecute. If they charge Quiros, he is going to jail for a while.

 

[mriceyman]

Sounds to me like the Fed's are after Quiros criminally. Fed's take a long time to build a case and do an excellent job at it. The Civil liability is not the biggest deal to the Defendant's, but if the Fed's charge anyone criminally, they are screwed. Fed's win over 95% of cases they prosecute. If they charge Quiros, he is going to jail for a while.

He will go to a country club not a jail.



Sent from my iPhone using AlpineZone

 

[doublediamond]

Fed's win over 95% of cases they prosecute.

That's because nearly all cases end in a plea deal.

 

[VTKilarney]

That's because nearly all cases end in a plea deal.

It's also because the Feds tend not to file criminal charges unless they have an overwhelming amount of evidence to convict. They aren't known for taking risks, to put it politely.

 

[thetrailboss]

So UN is reporting that the receiver just turned down a $93 million offer to buy Jay Peak.

http://unofficialnetworks.com/2016/08/receiver-turns-down-93-million-offer-to-buy-jay-peak

Consider the source.

 

[ironhippy]

So UN is reporting that the receiver just turned down a $93 million offer to buy Jay Peak.

http://unofficialnetworks.com/2016/08/receiver-turns-down-93-million-offer-to-buy-jay-peak

Consider the source.

Their source is the VT digger: http://vtdigger.org/2016/08/23/receiver-rebuffs-93-million-offer-jay-peak/

“The property is not being sold to Bellwether. We’re not even selling it at this point,” Goldberg said in an email Tuesday. “It was an unsolicited offer.”

 

[thetrailboss]

Their source is the VT digger: http://vtdigger.org/2016/08/23/receiver-rebuffs-93-million-offer-jay-peak/

Ah, OK. I'd trust VTD over UN.

 

[from_the_NEK]

"A Henry W. Johnson in Florida, according to a public records search, is associated with more than 40 corporations, including at least seven with the same Boca Raton address."

Sounds like another dude in the mold of Q Sr.

 

[dlague]

"A Henry W. Johnson in Florida, according to a public records search, is associated with more than 40 corporations, including at least seven with the same Boca Raton address."

Sounds like another dude in the mold of Q Sr.

Sounds like another shady deal! I would hope that Jay Peak would land in the hands of a business already associated with the ski industry.

 

[from_the_NEK]

Sounds like another shady deal! I would hope that Jay Peak would land in the hands of a business already associated with the ski industry.

Which is probably why the receiver pretty much told them to GTFO.

 

[River19]

That whole offer to buy sounds like Q all over again......dude with 40 companies or something like that etc. Glad they turned that mess down. For all we know this new dude is another "Bill Kelly"......lol

 

[fbrissette]

Which is probably why the receiver pretty much told them to GTFO.

Definitely. I doubt the receiver would have turned down a 91M offer from a reputable ski management company. Considering the recent 182M sale of Park City Resort, or the roughly 1BUS$ sale of Whistler Blackcomb (or 100M for the Canyons in 2008 and 83M for Killington and Pico in 2007), I would think 91M$ is in the upper range of what Jay Peak is worth.

 

[BenedictGomez]

I doubt the entire thing. The offer price versus what we know regarding recent year's income, their debt, etc.. makes no sense to me.