BILLINGS, Mont. — 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.
