Fraud at Jay Peak - Snowboarding Forum - Snowboard Enthusiast Forums
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post #1 of 55 (permalink) Old 04-14-2016, 03:54 PM Thread Starter
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Fraud at Jay Peak

Shit, hope this doesn't affect the mountain too much

VT, feds allege 'massive' fraud at Jay Peak Inc.
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post #2 of 55 (permalink) Old 04-14-2016, 04:13 PM
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Jay peak posted on their Facebook page that it will not have an affect on day to day operations. SEC assigned a managing company and a new GM to handle operations. The owners are fucked though.
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post #3 of 55 (permalink) Old 04-14-2016, 04:28 PM
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Jay peak posted on their Facebook page that it will not have an affect on day to day operations. SEC assigned a managing company and a new GM to handle operations. The owners are fucked though.
Always believe the facebook posts by people accused of fraud

btw, wtf is this?

"Under the EB-5 program, foreign investors contribute $500,000 to a project and may have the opportunity to become a permanent U.S. resident."

Residency for sale if you grease the right Wall St people.

Last edited by f00bar; 04-14-2016 at 04:34 PM.
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post #4 of 55 (permalink) Old 04-14-2016, 04:59 PM
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I really don't care. I have never been and probably won't ever go. Although maybe vail will suck them up in a short sale now and I can use my pass there next year.... I got epic passes so we can take some trips to CO next season and Australia in 2017.
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post #5 of 55 (permalink) Old 04-14-2016, 06:06 PM
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What really sucks about all of this is that Newport wont get the development plans that were promised. Poorest area in Vermont really could have used it. They already demolished a bunch of buildings downtown.
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post #6 of 55 (permalink) Old 04-14-2016, 08:20 PM
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Always believe the facebook posts by people accused of fraud

btw, wtf is this?

"Under the EB-5 program, foreign investors contribute $500,000 to a project and may have the opportunity to become a permanent U.S. resident."

Residency for sale if you grease the right Wall St people.
Yeah, this has gone on for a long time. Jay Peak was completely up front about it. It was even prominently featured on the web site. I just checked and it is no where to be found now!
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post #7 of 55 (permalink) Old 04-14-2016, 08:38 PM
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Yeah, this has gone on for a long time. Jay Peak was completely up front about it. It was even prominently featured on the web site. I just checked and it is no where to be found now!
I get that that was apparently part of the deal and transparent. I just had no idea that you can basically buy a permanent green card for $500k. Not sure how I feel about that.
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post #8 of 55 (permalink) Old 04-14-2016, 09:19 PM
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I get that that was apparently part of the deal and transparent. I just had no idea that you can basically buy a permanent green card for $500k. Not sure how I feel about that.
I hear you on that!

This article was supposed to be about 5 great examples of EB5 success. I wonder if they will update it!

Five by EB-5 - Fortune

To be fair I know other countries have similar schemes, e.g. https://www.newzealandnow.govt.nz/mo.../investor-visa. So, if @Phedder can start a snowboard company we can all pool our money and buy one lucky person a visa!
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post #9 of 55 (permalink) Old 04-14-2016, 09:27 PM
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Thats a pretty intense flow chart haha


Trace Snow User Name: Rain K
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post #10 of 55 (permalink) Old 04-14-2016, 09:38 PM
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Hahahahaha. I bet the AG barely has a clue where all those lines go!
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