Appeals court says one-time billionaire will stay in jail

AP News
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Posted: Jan 12, 2016 12:11 PM

BILLINGS, Mont. (AP) — An appeals court says a one-time billionaire blamed for driving a posh Montana resort into bankruptcy will stay in jail while a judge tries to force him to reveal what happened to his fortune.

The 9th U.S. Circuit Court of Appeals ruled late Monday, almost nine months after federal Judge Sam Haddon sent Yellowstone Club founder Tim Blixseth to a county jail for contempt of court.

Blixseth contends his money has been squandered, largely on attorney fees in his seven-year legal battle against the club's creditors. But the order from a three-judge panel indicates that such claims aren't going to get him released.

Blixseth's creditors have civil judgments against him for more than $250 million. They say the Washington state resident has concealed his money while maintaining a lavish lifestyle.