Judge asked to keep former billionaire jailed for contempt
Source: Associated Press
Judge asked to keep former billionaire jailed for contempt
By MATTHEW BROWN Associated Press Published: Jun 12, 2015 at 8:39 PM PDT
BILLINGS, Mont. (AP) - Creditors of Montana's Yellowstone Club for the ultra-rich said Friday that its founder should remain in the jail, where he has been held for almost two months for not disclosing what happened to $13.8 million from a property sale in Mexico.
Onetime billionaire Tim Blixseth, 65, of Medina has been pursued by the exclusive club's creditors since it went bankrupt in 2008 and was sold to new owners. Attorneys for the creditors say Blixseth owes their clients $286 million that he drained from the club for personal use.
On Friday, they described as a repackaged mishmash more than 9,000 pages of financial documents submitted by Blixseth last week as he seeks to be freed from the Cascade County jail.
U.S. District Judge Sam Haddon jailed Blixseth on April 20 over his incomplete accounting of the Mexico property sale, which was made in defiance of a previous court order.
Read more: http://www.komonews.com/news/local/Judge-asked-to-keep-former-billionaire-jailed-for-contempt-307240081.html
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Tim Blixseth[/center]
Demeter
(85,373 posts)The economics press isn't talking about it. Thanks, Judy Lynn!
Hoppy
(3,595 posts)valerief
(53,235 posts)Judi Lynn
(160,545 posts)valerief
(53,235 posts)Peace Patriot
(24,010 posts)he'd likely be out of prison, free of legal hassles, laughing at mere judges and having fun.
U.S. judges have no power over billionaires, who form their own exclusive country, which might be called, "Billionaires Without Borders." In BWB, a mere multi-millionaire can be gotten if he offends billionaires, and mere multi-millionaire creditors cannot gang up on a billionaire. But a "former billionaire"? If he can't protect his billionaire passport--by whatever means necessary--then he can be harassed for actions that the peasants would call crime, such as grand theft.
Just my read on the Associated Pukes' phrase "former billionaire." It resonates, no?
packman
(16,296 posts)Look at that ugly piece of crap behind him. How many 99% 'ers man hours does that represent in wages and such. Thank god for such people who employ the bricklayers, plumbers, electricians, grounds people, maids, etc. to maintain that club so that the 1% can live the life style they deserve with the money they have.
God bless the rich -
The guy stole $286 MILLION for people richer than him? I got a new hero.