Not in recent history has this region heard such a revelation. We had all gotten word that Jay Peak and QBurke had their doors temporarily closed and locks changed, but we could not have envisioned what would transpire in the days to come, as we learned of the federal Securities & Exchange Commission and state inquiry into the EB5 programs scattered throughout the Northeast Kingdom.
In the days that have followed, there has been considerable anger and frustration leveled against the ownership of Jay Peak and Burke Mountain, as a number of multi-million-dollar projects have been cast out to sea and allegations of financial improprieties have been leveled against Bill Stegner and Ariel Quiros.
As I have tried to process this shocking news over the past week, I have come to the realization that not much good comes from focusing on the reported financial infractions. I don’t mean to minimize what has happened in any way, but we have very little control over the charges or what will occur in the courts. It is our intent as a chamber to focus our efforts to assist Jay Peak and Burke Mountain in any and every way possible to survive and flourish.
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