BILLINGS, Mont. AP - The financial unraveling of the ultra-exclusive Yellowstone Club traces back more than three years, to a $375 million loan secured under club founder Tim Blixseth.On the same day the millionaires-only club obtained that loan through Credit Suisse, it transferred at least $271 million to a Blixseth-owned corporate entity, BGI.
January 13, 2009 at 12:00 AM
1 minute read
BILLINGS, Mont. AP – The financial unraveling of the ultra-exclusive Yellowstone Club traces back more than three years, to a $375 million loan secured under club founder Tim Blixseth.
On the same day the millionaires-only club obtained that loan through Credit Suisse, it transferred at least $271 million to a Blixseth-owned corporate entity, BGI. The loan specified that most of that money could be used for purposes unrelated to the club – and it appears Blixseth did just that.
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