- Cohen and Baros were behind sprawling Africa graft campaign
- The duo paid tens of millions of dollars in bribes, SEC says
WP Edit Snidget Archive
Division of Parks and Recreation, Fiscal Year 2017 Financial Report – FY17-Parks-Report-FINAL-DRAFT-1-31-18 (pdf 2MB)
State of New Hampshire Documents
NH AG DRED Mt Sunapee Ski Area Memo 2017June7 (pdf 1.2 MB)
Registry Filings 2017 and 2016
CLP Mout Sunapeee Quit Claim Deed 2017April6 (pdf 244kb)
Leasehold Mortgage CLP Mt Sunapee LLC 2017April6 (pdf 1.8MB)
Subordination, NonDisturbance and Attornment Agreement 4-06-1017 (pdf 630MB) – Leasehold Record Owner: CLP Mount Sunapee LLC. Sublessee/Tenant: The Mount Sunapee Difference LLC. Lender: EPT Ski Properties, Inc.
Mount Sunapee Lease Amendment_2016March (pdf 1.9MB)
Revised Master Developmentn Plan Approval-Letter of Conditions 2016 March (pdf 379kb)
Lease Amendment_West Bowl Expansion Lands Exhibit A (pdf 158kb)
Lease Amendment_Conservation Lands Exhibit B (pdf 122kb)
2015 and prior
Lease Operating Agreement and Map (1998) (pdf 1.1MB)
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Commercial development, driven by corporate interests, increasingly threatens public lands. At Mount Sunapee State Park, we must firmly resist the exploitation of our parkland for private financial gain. Additionally, leaseholders at our state parks must demonstrate sound financial management and ethical practices that inspire public confidence and trust.
Updated 4/24/2018. Below find links to industry press releases and news articles related to the sale of the ski area lease at Mount Sunapee. Provided here are registry documents and related State documents.
In 1998, New Hampshire entered into a lease of the state-owned ski area at Mount Sunapee State Park with Okemo, Inc. Shortly after, Okemo chose to operate in N.H. as The Sunapee Difference. In 2008, Okemo/TSD sold the lease to CNL Lifestyle Properties (a Florida-based real estate investment trust). A management agreement (details undisclosed) kept Okemo/TSD directing daily operations.
The Mount Sunapee ski area lease is subject to “assignment or otherwise transfer” with prior State approval.
However, on June 7, 2017, the N.H. attorney general and the commissioner of the Department of Resources and Economic Development announced that Och-Ziff (Real Estate) now owns the ski area lease at Mount Sunapee. They said the deal was “structured in a manner to avoid triggering the assignment provision of the Lease.”
After bribery schemes in Africa led the U.S. government to fine the new operator of Mount Sunapee Resort $412 million last year — one of the biggest penalties ever issued under the Foreign Corrupt Practices Act — the New Hampshire attorney general wants to hold a public information meeting about plans for the resort.
06/08/2017 Sunapee’s new leaseholder fined millions in bribery case (Union Leader)
06/07/2017 State calls for public meeting amid concerns over Mount Sunapee ski lease (Concord Monitor)
06/01/2017 The FCPA Blog Former Och-Ziff middleman jailed two years (The FCPA Blog)
05/31/2017 Och-Ziff Judge Wants Everybody in Bribery to Be Accountable (Bloomberg.com)
05/22/2017 Och-Ziff: Wall Street’s fallen star (Crain’s New York Business)
Daniel Och’s hedge fund saw the steepest revenue drop—42%—of any publicly held New York company, thanks to a massive corruption scandal.
04/10/2017 EPR Properties & CNL Lifestyle announces transaction closure (Zacks.com)
04/08/2017 EPR Properties and CNL Lifestyle Properties Announce Closing Of Transaction, Includes Northstar Sale (Snow Industry News)
EPR Properties (the “Company”) and CNL Lifestyle Properties, Inc. (“CNL Lifestyle”) today announced the completion of the previously announced acquisition by the Company of the Northstar California Ski Resort, 15 attraction properties (waterparks and amusement parks) and five small family entertainment centers for aggregate consideration valued at $455.5 million. Additionally, the Company provided $251.0 million of five-year secured debt financing to funds affiliated with Och-Ziff Real Estate (“OZRE”) for its purchase of 14 CNL Lifestyle ski properties valued at $374.5 million.
02/15/2017 Och-Ziff Suffered $13 Billion in Withdrawals as Clients Fled (Bloomberg.com)
- Redemptions over the last 13 months came amid settlement
- Resolved five-year bribery probe in September with regulators
01/26/2017 Two Ex-Och-Ziff Executives Accused by SEC in Bribery Scheme (Bloomberg.com by Matt Robinson and Keri Geiger)
11/26/2016 Mt. Sunapee, Loon buyer paid $412m to settle criminal, civil bribery charges (NH Business Review)
Hedge fund bribed officials in several African nations, including Qaddafi’s son
Download/view: epr-prop-cnl-portfolio-transaction-2016nov2 (pdf 3.3MB)
11/02/2016 CNL Lifestyle Properties, Frequently Asked Questions, Plan of Liquidation & Distribution, Purchase & Sale Agreement and Special Distribution
Download/view: cnl-liquidation-special-distribution-stockholder-qa-2016nov2 (pdf 127kb)
11/02/2016 CNL Lifestyle Properties, Stockholder Letter
Download/View: cnl-stockholder-letter-2016nov2 (pdf 109kb)
About Och-Ziff (lessee at Mount Sunapee)
09/26/2016 Och-Ziff’s Sprawling Africa Bribery Network Laid Out by U.S. (Bloomberg.com)
- Hedge fund billionaire turned blind eye to corruption risks
- Scheme sought to win deals from officials, including a Qaddafi
Those actions are part of a multiyear bribery conspiracy across Africa that benefited Och’s firm, Och-Ziff Capital Management LP, U.S. authorities said Thursday.
09/29/2016 Och-Ziff to Pay Over $400 Million in Bribery Settlement (NY Times by Alexandra Stevenson)
Africa once represented a lucrative new market for a giant New York hedge fund.
09/26/2016 Och-Ziff Capital Management Admits to Role in Africa Bribery Conspiracies and Agrees to Pay $213 Million Criminal Fine (U.S. Department of Justice, Office of Public Affairs)
Och-Ziff Enters into Three-Year Deferred Prosecution Agreement; Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act
09/26/2016 Och-Ziff Hedge Fund Settles FCPA Charges (U.S. Securities and Exchange Commission)
The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA).
08/21/2014 The Hedge Fund and the Despot – Did a Wall Street titan’s money bail out Robert Mugabe in his hour of need? (Bloomberg.com)
Asked repeatedly when Och-Ziff first learned its money would fund the Zimbabwe platinum deal, a spokesman for the hedge fund firm declined to comment.
FOMS is the process of updating the website. Thank you for your patience.
Dear Friend of Mount Sunapee State Park,
Thank you for your continuing support of the efforts of Friends of Mount Sunapee. Your letter writing, petition signing, activism, and financial support have allowed us to repeatedly communicate to the decision makers in Concord our strong opposition to ski area expansion at Mount Sunapee State Park.We could not have done it without you!
Despite our efforts, the Executive Council, in April 2016, approved a lease amendment and letter of conditions that enable resort and private real estate development on Mount Sunapee’s western slope.
Yet to be implemented, this plan (for developing a “West Bowl”) failed to detail its scale and scope, impacts and sustainability.
Commercial development, driven by powerful corporate interests, increasingly threatens public lands. At Mount Sunapee State Park, we must strongly resist the exploitation of our parkland for private financial gain. Additionally, leaseholders at our state parks must demonstrate sound financial management and ethical practices that inspire public confidence and trust.
Latest Update: Sunapee lease transfer
FOMS is now asking Commissioner Rose (Dept. of Resources and Economic Development) to deny the lease assignment of the ski area (at Mount Sunapee) from CNL Lifestyle Properties to Och-Ziff Capital Management Group LLC, a New York hedge fund.
In September 2016, the U.S. Dept. of Justice and the U.S. Securities and Exchange Commission sanctioned Och-Ziff under the provisions of the Foreign Corrupt Practices Act, resulting in civil and criminal fines totaling $412 million. Furthermore, recent news reports question Och-Ziff’s financial stability. A February 2017 Bloomberg article reported: “Och-Ziff Suffered $13 Billion in Withdrawals as Clients Fled.”
See more about Och-Ziff.
[Please check back. FOMS is in process of updating its website. Thank you for your patience.]