Yellowstone Ski Club Founders Hit With Fraudulent Transfer Ruling

A federal jury in Washington ruled that the founder of a private Montana ski and golf resort, Timothy Blixseth, and his wife intentionally defrauded creditors by transferring over $9.3 million of his assets to her control, soon after a $286 million judgment was entered against him.  The liquidating trustee for the Yellowstone Club successfully alleged that Blixseth transferred assets including a private jet and a 156-foot yacht, through a shell company and ultimately to his wife, Jessica.  The jury found that both Timothy and Jessica Blixseth acted with the intent to hinder, defraud or delay creditors, to the tune of $9.3 million.