Reward offered for former billionaire's assets
HELENA, Mont. (AP) — The trustee representing Montana's Yellowstone Club creditors is offering a reward to anyone who can help uncover assets the luxury resort's co-founder might have hidden from bankruptcy proceedings.
Attorney Brian Glasser with West Virginia-based Bailey & Glasser LLP says the trust will give 10 percent of the profits of the liquidated assets recovered from Tim Blixseth to anyone with information that leads to their discovery.
He's calling on people with knowledge of the former billionaire's transactions to come forward in what the trust is calling a "reward program."
Blixseth dismissed the program as a sign of desperation ahead of an appellate ruling on the resort's bankruptcy and other appeals that Blixseth says could eliminate the trust's claims.
A bankruptcy judge previously said Blixseth diverted hundreds of millions of dollars from a 2005 loan to the resort for his personal use.