Former billionaire actual property developer Tim Blixseth has reached a $three million settlement to resolve claims he illegally pocketed lots of of tens of millions of dollars from a Montana resort for the superrich.
The settlement between Blixseth and collectors for the Yellowstone Membership was revealed in courtroom paperwork filed late Friday.
Blixseth based the luxury resort close to Huge Sky that has attracted superstar members together with Microsoft co-founder Invoice Gates and former Vice President Dan Quayle.
It went bankrupt in 2008 and has since come beneath new possession.
The $three million cost to its collectors is a pittance in comparison with $525 million in courtroom judgments they’ve towards Blixseth. It will not even cowl their litigation prices.
However collectors’ attorneys say it was one of the best they might do after Blixseth misplaced his fortune.