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AP: Bankrupt Resort Founder Blixseth Remains Behind Bars



The former billionaire and founder of the luxurious Yellowstone Club ski and golf resort in Montana was sent back to jail Oct. 19, when a U.S. district judge said he was unsatisfied Tim Blixseth hadn't come clean on the $13.8 million that he received from the sale of a Mexican resort.

Blixseth was tossed into a Great Falls, Mont., jail in April after a judge found the developer in contempt for failing to account for the millions he owes creditors. Prosecutors said Blixseth owes more than $250 million to his lenders.

The Associated Press reports Blixseth sat silently Monday in a Helena, Mont., courtroom as his accountant took nearly six hours to explain Blixseth's sale of a Mexican resort, with funds funneling through more than 20 different businesses and/or bank accounts. The accountant insisted all of the $13.8 million had been spent.

The AP reports U.S. District Judge Sam Haddon ordered Blixseth back to jail until at least Nov. 20, when he's expected to rule on whether Blixseth had provided sufficient detail on the Mexican funds.

At its peak, the Yellowstone Club employed nearly 540 people and included Phil Mickelson, Bill Gates and Justin Timberlake as its members.