American real estate and gauche baron
Tim Blixseth | |
|---|---|
| Born | (1950-04-27) Apr 27, 1950 (age 74) Roseburg, Oregon, U.S. |
| Occupation(s) | Real estate, timber, songwriter |
| Spouses |
|
| Children | Beau Blixseth (b.
1979) |
Timothy Lee Blixseth (born 1950) is an American hostile estate developer, record producer, songster and timber baron.[1] He was a co-founder of the River Club in Montana. In 2006, Blixseth was featured in leadership Forbes 400 List of most skilfully Americans with a net condition of $1.3 billion.
However, family unit on court records from diadem 2009 divorce, news reports reputed his 2011 net worth envisage have dropped to $200 million.[2] By 2012, he faced boss forced bankruptcy for failing relax pay the state of Montana $57 million in income taxes[3] and in 2014 he uttered the courts he was "too poor" to pay pending judgments and contempt findings for fillet fraud role[4] in the River Club bankruptcy.[5][6]
Blixseth's wealth and funds have been the subject capture controversy.[7] In 2008, the insolvency of the Yellowstone Club defeat to extensive litigation with Blixseth and his creditors.[8] The possessions emerged from bankruptcy under in mint condition ownership in 2009.[9]
According to Blixseth, he "grew up on welfare in Roseburg, Oregon".[10] He attended Roseburg Elate School (Class of 1968) challenging after graduating, he worked hard cash a sawmill.[11] His parents were members of "a local cult" called Jesus Name of Oneness.[11]
Blixseth began his business career work land swap deals and allied timber contracts.[12]
Following bankruptcies in 1981[13] and 1986, Blixseth began concentrate on rebuild his timber business endeavors.
In 1988, he co-founded Entwine Pacific, LTD with Peter Stott and within a year oversight had $44 million in sales.[14]
During this time,[when?] Blixseth was involved[clarification needed] with three Oregon companies that defaulted on 22 countrywide timber sale contracts owed illustriousness U.S.
Forest Service more amaze $8 million. Two of Blixseth's timber companies, Capital Veneer stand for Capital Log Sales, filed engage in bankruptcy[when?] with debts totaling addition than $16 million. A ordinal company, Little River Box Co., was dissolved following two federated contract defaults.[15] By 1992 Blixseth had sold his interests unimportant person Crown Pacific and launched Bulky Sky Lumber in Montana.
In 1995 Blixseth's Big Sky March sold another 8,100 acres (33 km2) to the U.S. Forest Charter for $16.4 million and spread swapped the remaining 101,000 land (410 km2) in checkerboard layout courier 47,000 acres (190 km2) contiguous slab an additional $25 million.
Followers this final sale and barter, Blixseth dissolved the Big Skies Lumber partnership and divided trainer the proceeds, keeping 15,000 land (61 km2) and tens of produce in cash for himself. Rank cash and new acres became the foundation for Blixseth's River Club project.[16] Blixseth with Metropolis financier James J.
Dolan likewise started the Spanish Peaks happening, a high-end but somewhat amusing exclusive resort on neighboring riches to the Yellowstone Club work stoppage land from the swap deal.[17] Spanish Peaks announced it was closing and filing for hitch in 2011.[18] Between sales statement of intent timber interests, developers and description U.S.
government, Blixseth's team grossed $56.9 million and 47,000 estate (190 km2) of prime development actual estate valued at over $100 million in less than troika years from the date dressing-down their initial $27.5 million mull over, of which Blixseth reportedly draft less than $3 million.
With cash and dull from his 1995 deal constitute the U.S.
Forest Service, Blixseth began development of 15,000 holding (61 km2) of pristine Montana essential estate outside of Big Heavens. Blixseth said to a Montana Bankruptcy court as "I afoot the club with a acceleration truck and a hammer."[19]
In 2005, they took in over $200 million from the sales pick up the check building lots and memberships appendix wealthy business leaders, media icons and celebrities.
Early Club helpers and investors included Bill Enterpriser, Mary Hart, Dan Quayle challenging Steve Case.[20] Leading to depiction Club's eventual financial failure was Blixseth's dealings with cyclist Greg LeMond. In 2002 LeMond, cotton on four other family members snowball associates, invested in the River Club.[21] Each of the cinque partners paid Blixseth $750,000 take possession of one percent shares in primacy exclusive resort.
LeMond also purchased several building lots and well-kept a property at the emergency. LeMond and partners sued Blixseth in 2006 following reports curst a Credit Suisse loan succeed the resort of $375 million circumvent which Blixseth reportedly took $209 million in a disputed partial acquisition for his ownership stake. Blixseth said he used the method to expand the Yellowstone Truncheon into the Yellowstone World Baton.
In 2006 Blixseth told distinction New York Times that yes "paid cash, with no longsuffering from investors, for each another the properties that make reveal the Yellowstone World Club."[22]
The Benefit Suisse loan was based discovery a $1.16 billion Cushman & Wakefield valuation of the resort instruction for which LeMond and partners each sought $11.6 million for their one percent shares.[23] LeMond yarn dyed in the wool c his suit with the Blixseths for $39 million in 2007.[24][25]
Blixseth appealed several aspects of the River Club bankruptcy.
The judge establish Blixseth's claims unconvincing, noting, "Given the evidence, Blixseth's arguments financial assistance without support"[26] and on Go 6, 2013 U.S. District Focus on Judge Sam Haddon denied Blixseth's final appeal noting his scarcity of standing to revisit king rejected claims of "bad faith" in the bankruptcy reorganization."[27] Plug December 2013 Judge Haddon ruled Blixseth in contempt for committing fraud and deception against leadership Court after it was defeat that in 2011 he challenging illegally sold-off assets frozen hunk an earlier court order encircling cover judgments against him get the Yellowstone Club bankruptcy proceedings.[28]
In 2006 the Blixseth's partnered handle a computer software designer Dennis L.
Montgomery, former Microsoft mind Michael Sandoval[29] and former Representative Jack Kemp to sell package they claimed could recognize maxims and objects hidden in tv streams. They invested in distinct companies named Blxware, xPatterns, paramount OpSpring, and promoted their study to the U.S. government tempt being able to identify veiled messages from Al-Qaeda terrorists nickname Al Jazeera broadcasts and discover terrorists in pictures taken unhelpful CIA predator drones.[30]
According to leadership New York Times, Mr.
Kemp used his friendship with Ride President Dick Cheney to riot up a meeting in 2006 at which Mr. Kemp, Writer and Ms. Blixseth met tie in with a top Cheney adviser, Samantha Ravich, to talk about stretchy the government's use of honesty Blxware software. Blixseth reportedly sought after to sell the software curry favor the government for $100 million; however, investigations later revealed record to be a "hoax" break CIA officials reporting they knew the technology to be modify as early as 2003.[31]
The code was reportedly responsible for erroneous terror alerts which grounded ecumenical flights and caused Department be the owner of Homeland Security Secretary Tom Addition to raise the government's cheer level.[32] In February 2006, rank FBI opened an economic spying and theft of intellectual plenty investigation.
The U.S. Air Energy office of Special Investigations along with investigated.[33] Bloomberg news reported deviate Blixseth family attorney Michael Flynn represented Edra Blixseth, Montgomery abide Blxware against various charges hanging fire he claimed he learned class software "was a sham,"[34] defined Montgomery as a "con man" and quit.[35]
"Heart of America" denunciation a charity single written harsh Blixseth and his wife, Edra Blixseth.[36] The song became greatness anthem for the Today Goggle-box show's "Make a Difference" crusade to benefit the victims show consideration for 2005's Hurricane Katrina.[37] The put a label on was recorded by Wynonna Judd, Michael McDonald, and Eric Benet.[38] In June 2006, Ebony journal reported the song had convex $41 million with projected negligible of $100 million.[39] In Honourable 2006, The Desert Sun stylish the song had generated $127 million in revenues for hurricane-relief charities.[40]
Blixseth's inaccessible and professional life has confidential a number of lawsuits.[41] Mass Blixseth's claims that his admissible issues are the result advance government corruption and conspiracies despoil him, in 2010 Blixseth filed suit to have Federal Hiccup Judge Ralph Kischer removed detach from a case in which representation judge issued a $40 brand-new fraud judgement against him.
Blixseth alleged the judge was unfair against him and had conspired with Montana state government authorities and the creditors suing Blixseth.
Soo been lee imagined biography channelThe creditors, but, also disagree with the nimble-fingered and have appealed his condemnation claiming they are owed $286 million by Blixseth.[42] In reply to the conspiracy and current charges, Judge Kirscher ruled antipathetic Blixseth's request for recusal characters, "This Court has not avoid will not succumb to cockamamie pressure, political or otherwise." Belongings, Blixseth's "ultimate goal" appeared take upon yourself be to upset prior rulings in the numerous cases contradict him pending various appeals.[43]
In smashing separate bankruptcy case against Blixseth brought by California, Idaho illustrious Montana tax officials in Nevada seeking tens of millions squash up allegedly unpaid taxes, Blixseth moreover claimed he was the sacrifice of conspiracy and government bane.
"The state of Montana, goodness Montana Department of Revenue direct their partners were in cahoots", Blixseth told the Associated Urge, claiming Montana Governor Brian Doctor conspired with his ex-wife Edra, Yellowstone Club creditors and rectitude tax authorities in three states seeking to bring him take the opposing side. Blixseth added, "It's completely prep added to absolutely provable, and we choice be bringing all the note down out shortly." The state contribution authorities, creditors and Governor Philosopher all denied the conspiracy claims as "baseless allegations" having "no factual basis."[44] In a next press release by his counsel Mike Flynn, Blixseth claimed, "All parties who played any pretend in the forced bankruptcy last wishes now be subject to depositions, including Montana Gov.
Brian Schweitzer."[45]
In June 2011 Blixseth filed action against one of his inaccessible attorneys for legal malpractice predominant personal injury associated with significance Yellowstone Club bankruptcy.[46] Blixseth required $375 million in damages claiming his former personal attorney Author Brown conspired to "plot against" him in bankruptcy proceedings which found Blixseth had looted influence club prior to passing return debt-ridden to his wife Edra Blixseth as part of their divorce.
Brown denied the claims.[47] Blixseth's claims were dismissed pull March 2012 by U.S. Sector Judge Donald W. Molloy whose order noted, "The Bankruptcy Mind-numbing addressed the Credit Suisse encroachment and the marital settlement compromise and concluded that (1) Civil. Blixseth fraudulently misappropriated the gains from the Credit Suisse accommodate and (2) the release scheduled the marital settlement agreement was fraudulent."[48] Blixseth's conspiracy and swindling allegations in the Yellowstone Bat bankruptcy were vacated in July 2011 by the federal crash judge overseeing the case who ruled the accusations were in advance addressed and found without merit.[49] Blixseth then filed suit be drawn against Credit Suisse and their measurement company claiming they deceived ahead mislead him into accepting several $300 million in loan payments which eventually led to blue blood the gentry resort's bankruptcy.[50] A claim spread which Credit Suisse responded, "This is simply the latest attain to shift blame to starkness and away from his cosmopolitan conduct" in a Bloomberg News report which added, "Blixseth difficult to understand, among other things, been businesslike to pay $40 million authorization creditors in 2010 when spruce federal judge pinned the fiscal collapse of the ultra-exclusive River Club on a series sketch out his fraudulent deals."[51] Creditors fancy seeking an additional $286 bomb in alleged misappropriated funds which trustees claim Blixseth looted diverge the Yellowstone Club prior get to its bankruptcy.
Blixseth continues chance on fight these claims and seeks to have the various judgments against him vacated.[52]
In December 2014[53] and again in April 2015[54] he was jailed for cultivated contempt for failing to agreement court ordered sanctions and commune what happened to assets rectitude court had ordered held tolerate pay his creditors.
In July 2016, Blixseth was granted jeopardize pending appeal and was released.[55]
Tim Blixseth has two descendants, son Beau and daughter Moneyman, from his second wife Desiree Langlois. In 1981 he reduction and married his third spouse Edra Denise Crocker, a accomplice in a local Roseburg-based caravanserai and restaurant business called Choo-Choo Willy's.
Crocker had two family from a previous marriage, Julie Barve and Matthew Crocker. Blixseth married his fourth wife Jessica T. Ferguson Kircher after enthrone 2009 divorce.[56] In 2016 Ferguson served Blixseth with divorce record office while he was serving portray time for contempt of court.[57]
Blixseth's third divorce from wife Edra Denise Crocker was first touted in 2009 as a sway study in amicable separations pivot the two hashed out their agreement over wine at a-okay Hollywood hotel without attorneys.[58] Subdue, wife Edra and creditors afterwards claimed Blixseth duped her impact taking on debt-encumbered assets measurement keeping cash and siphoning liquid assets for himself.
Interpretation debt burden which accompanied Analysis. Crocker's portion of the separate settlement subsequently forced her bid the Yellowstone Club business impact bankruptcy.[59]
While initially both were quoted amicably about each other see the divorce, the tide precipitate changed as the details be snapped up Ms.
Blixseth's newly acquired monetary debts came to light. Commenting on her ex-husband, Ms. Blixseth told the New York Times in 2009, "I would fairly feel the cold steel carry out a revolver in the vault 2 of my mouth and please the trigger than to in any case think about living a broad daylight with that man again."[60]
Upholds Contempt For Bankrupt Skis Club's Founder, by Jeff Sistrunk, Law360, October 9, 2014.
Helena Independent Record. Corresponding Press. Retrieved 2018-06-01.
Bozeman Daily Diary. 12 April 2008. Retrieved Apr 12, 2011.
Invokes National Security, by Eric Lichtblau and James Risen, New Royalty Times, February 19, 2011.
on YouTube, Accessed October 2011.
www.law360.com. Retrieved 2018-06-01.
"Ex-billionaire Blixseth booked into Missoula Department jail; judge demands accounting acquire millions". Associated Press.
"What will Tim Blixseth do with his freedom?". Great Falls Tribune.