The Yellowstone Club was to be one of the most ornate ski resorts in the West, a snowbound Shangri-la for the super rich described by The New York Times as "a ski community where there's no such thing as too much." That is, until the plan collapsed, with the club defaulting on loans worth hundreds of millions of dollars and the developer, Tim Blixseth, accused of misusing funds to support his extravagant lifestyle.
Blixseth is currently facing $250 million in judgments from creditors and has failed to account for $13.8 million in spending. That failure put him in jail for contempt of court, where a district court judge says he'll remain until a full accounting is made. He won't be getting any help from the Ninth Circuit either, as the appeals court refused his petition for release yesterday.