The CEO of the Australian company in the process of buying Saddleback Mountain in Rangeley was caught on tape saying he “won’t lose any sleep” if the mountain never reopens for skiing, according to a report from News Center Maine.

The news outlet reported Tuesday that Sebastian Monsour, the Australian developer who agreed to purchase Saddleback last year, was caught on tape during a staff meeting in September 2017 saying:

“We are not going to deliver on Saddleback. Saddleback was always going to be tight. We have never promised to actually deliver the lift this year.”

Six months ago, Monsour said the reason he was buying the ski resort was for the U.S. EB-5 Visa program.

According to, EB-5 is an investor immigration program in which entrepreneurs, their spouses and unmarried children under 21 are eligible to apply for a green card if they 1) make the necessary investment ($500,000) in a commercial enterprise in the United States and 2) plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.

Monsour said in the recording that the company could not pay its employees.

“We’re in an asset rich, cash poor situation at the moment,” Monsour said on the tape. “I have a very, very, very small amount of funds. We will be late for the first time on payroll for everybody this week.”

Monsour said on June 28 last year that his company’s plan was to make Saddleback the premier ski resort in North America.

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