The Jay Peak Saga

[tirolski]

Woodstove Archive - Jay, Burke and EB-5

Jay, Burke and EB-5. BURKE, Vt. A developing story in the Northeast Kingdom where the EB-5 visa program is under scrutiny. It appears some kind of investigation is going on at Q Burke and agents may...

forum.nyskiblog.com

New newsy stuff:

Jay Peak ski area receiver reaches $32.5 million fraud settlement

The case arose out of a failed plan to build a biotechnology plant in northern Vermont using millions of foreign investors’ money raised through the EB-5 visa program.

www.pressherald.com

 

[Sick Bird Rider]

Thanks for that link. That's a lot of cash to cough up just so you can move on with lawyerly life.

 

[Benny Profane]

At least they aren't in jail, or even disbarred.

 

[x10003q]

That is a huge payoff for doing nothing wrong. They must have Mitchell Silberberg & Knupp LLP dead to rights. Unfortunately, nobody will serve time for giving out $32.5 million of "bad" advise that is sending the client to prison. This is just another 'cost of doing business' exercise with insurance covering part (if not all) of the tab.

Surprisingly, there is no mention of the settlement on their website.

news studio

www.msk.com

 

[Harvey]

Valley News

The Valley News is the daily newspaper and website of the Upper Valley, serving communities in Vermont and New Hampshire.

www.vnews.com

 

[tirolski]

Afghans are struggling to get out of Kabul now and all they had to do was cough up some $ & invest in a biotech in Vermont and they’d have been in.
Who knew.

 

[Benny Profane]

Sort of like a class action, because the lawyers had to contact these "investors" scattered all over the world and put them in one tent.

 

[tirolski]

Sort of like a class action, because the lawyers had to contact these "investors" scattered all over the world and put them in one tent.

It was also about having a new hotel at Burke not a dang tent. Have some class Benny.

 

[Brownski]

Court records point to state cover-up in EB-5 fraud at Burke Mountain Resort

The Shumlin administration misled investors and federal agencies in a push to finish the Burke hotel, according to a new filing in federal court.

vtdigger.org

 

[x10003q]

Court records point to state cover-up in EB-5 fraud at Burke Mountain Resort

The Shumlin administration misled investors and federal agencies in a push to finish the Burke hotel, according to a new filing in federal court.

vtdigger.org

The crooked involvement by Vermont has been an underlying theme for years and now there is public proof.