BILLINGS, Mont. - A U.S. judge has ordered a former luxury real estate mogul to pay $286 million to creditors of a Montana club for the ultrarich that he's accused of fleecing for personal gain.
The order from U.S. Bankruptcy Judge Ralph Kirscher is the latest turn in a years-long chase after the assets of Yellowstone Club founder Timothy Blixseth.
Blixseth diverted hundreds of millions of dollars from a 2005 Credit Suisse loan to the club. That set the business up for bankruptcy when he gave it to his ex-wife during their divorce.
Trustees for the club's creditors have recovered only $141 from Blixseth despite a string of multi-million judgments against him.
In July, Blixseth was released from more than a year in jail for defying court orders to reveal his assets.
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