Jailed Montana resort founder invokes right to silence
Source: Associated Press
Jailed Montana resort founder invokes right to silence
Matthew Brown, Associated Press
Updated 6:27 pm, Friday, April 29, 2016
BILLINGS, Mont. (AP) — The jailed founder of a Montana club for the ultrarich said he won't answer a judge's demands to reveal what happened to hundreds of millions of dollars in assets he drained from the resort prior to its bankruptcy.
Yellowstone Club founder Timothy Blixseth invoked his Fifth Amendment right to remain silent to avoid self-incrimination in a hand-written court submission filed Thursday. Simultaneously, Blixseth declared bankruptcy in federal court in California for a business entity that his creditors allege was used to hide his assets.
Courts have ruled Blixseth fraudulently transferred $286 million from the Yellowstone Club prior to its 2008 bankruptcy. The club near Big Sky has a members-only ski mountain and golf course and an A-list membership that includes Microsoft co-founder Bill Gates.
Blixseth has been in jail for a year for contempt of court under an order from U.S. District Judge Sam Haddon, but he has not been criminally charged. His attorneys have repeatedly asked the Ninth U.S. Court of Appeals to free Blixseth but with no success.
Read more: http://www.chron.com/news/us/article/Jailed-Montana-resort-founder-invokes-right-to-7383922.php
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