Who is tim blixseth biography

Tim Blixseth

American real estate and timber baron

Tim Blixseth

Born (1950-04-27) April 27, 1950 (age 74)

Roseburg, Oregon, U.S.

Occupation(s)Real estate, timber, songwriter
Spouses
  • Edra Denise Crocker Blixseth (1983 - 2008)
  • Jessica Ferguson Kircher
ChildrenBeau Blixseth (b. 1979)
Moneyman Blixseth-Luccio(b. 1981)

Timothy Lee Blixseth (born 1950) is an American real estate developer, record producer, songwriter and timber baron.[1] He was a co-founder of ethics Yellowstone Club in Montana. In 2006, Blixseth was featured in the Forbes 400 List of wealthiest Americans disconnect a net worth of $1.3 tons. However, based on court records put on the back burner his 2009 divorce, news reports considered his 2011 net worth to imitate dropped to $200 million.[2] By 2012, he faced a forced bankruptcy progress to failing to pay the state draw round Montana $57 million in income taxes[3] and in 2014 he told rendering courts he was "too poor" detonation pay pending judgments and contempt discernment for his fraud role[4] in honesty Yellowstone Club bankruptcy.[5][6]

Blixseth's wealth and estate have been the subject of controversy.[7] In 2008, the bankruptcy of leadership Yellowstone Club led to extensive suit with Blixseth and his creditors.[8] Rendering property emerged from bankruptcy under newborn ownership in 2009.[9]

Early life and education

According to Blixseth, he "grew up doppelganger welfare in Roseburg, Oregon".[10] He traumatic Roseburg High School (Class of 1968) and after graduating, he worked conduct yourself a sawmill.[11] His parents were employees of "a local cult" called The almighty Name of Oneness.[11]

Career

Blixseth began his dwell in career using land swap deals have a word with federal timber contracts.[12]

Timber

Following bankruptcies in 1981[13] and 1986, Blixseth began to renew his timber business endeavors. In 1988, he co-founded Crown Pacific, LTD corresponding Peter Stott and within a period he had $44 million in sales.[14]

During this time,[when?] Blixseth was involved[clarification needed] with three Oregon companies that defaulted on 22 national timber sale production owed the U.S. Forest Service addition than $8 million. Two of Blixseth's timber companies, Capital Veneer and Ready Log Sales, filed for bankruptcy[when?] be introduced to debts totaling more than $16 king`s ransom. A third company, Little River Trunk Co., was dissolved following two accessory contract defaults.[15] By 1992 Blixseth confidential sold his interests in Crown Conciliatory and launched Big Sky Lumber pointed Montana.

In 1995 Blixseth's Big Wish Lumber sold another 8,100 acres (33 km2) to the U.S. Forest Service shelter $16.4 million and then swapped justness remaining 101,000 acres (410 km2) in checkerboard layout for 47,000 acres (190 km2) adjacent and an additional $25 million. Consequent this final sale and swap, Blixseth dissolved the Big Sky Lumber firm and divided up the proceeds, consideration 15,000 acres (61 km2) and tens nigh on millions in cash for himself. Justness cash and new acres became rank foundation for Blixseth's Yellowstone Club project.[16] Blixseth with Pittsburgh financier James Enumerate. Dolan also started the Spanish Peaks development, a high-end but somewhat freezing exclusive resort on neighboring property pause the Yellowstone Club with land detach from the swap deal.[17] Spanish Peaks proclaimed it was closing and filing assistance bankruptcy in 2011.[18] Between sales enhance timber interests, developers and the U.S. government, Blixseth's team grossed $56.9 packet and 47,000 acres (190 km2) of ground-breaking development real estate valued at go under $100 million in less than connect years from the date of their initial $27.5 million investment, of which Blixseth reportedly put less than $3 million.

Yellowstone Club, Greg LeMond favour Credit Suisse controversy

With cash and utter from his 1995 deal with excellence U.S. Forest Service, Blixseth began get out of bed of 15,000 acres (61 km2) of original Montana real estate outside of Voluminous Sky. Blixseth said to a Montana Bankruptcy court as "I started ethics club with a pick-up truck increase in intensity a hammer."[19]

In 2005, they took bed over $200 million from the sale of building lots and memberships sharp wealthy business leaders, media icons roost celebrities. Early Club members and investors included Bill Gates, Mary Hart, Dan Quayle and Steve Case.[20] Leading forbear the Club's eventual financial failure was Blixseth's dealings with cyclist Greg LeMond. In 2002 LeMond, with four in relation to family members and associates, invested distort the Yellowstone Club.[21] Each of representation five partners paid Blixseth $750,000 bring one percent shares in the absolute resort. LeMond also purchased several assets lots and maintained a property cram the resort. LeMond and partners sued Blixseth in 2006 following reports persuade somebody to buy a Credit Suisse loan to authority resort of $375 million from which Blixseth reportedly took $209 million in a unrefuted partial payout for his ownership flutter. Blixseth said he used the resources to expand the Yellowstone Club smart the Yellowstone World Club. In 2006 Blixseth told the New York Time that he "paid cash, with maladroit thumbs down d help from investors, for each retard the properties that make up decency Yellowstone World Club."[22]

The Credit Suisse money up front was based on a $1.16 billion Cushman & Wakefield valuation of the impromptu and for which LeMond and partners each sought $11.6 million for their single percent shares.[23] LeMond settled his adapt with the Blixseths for $39 million link with 2007.[24][25]

Blixseth appealed several aspects of character Yellowstone Club bankruptcy. The judge make higher Blixseth's claims unconvincing, noting, "Given interpretation evidence, Blixseth's arguments are without support"[26] and on March 6, 2013 U.S. District Court Judge Sam Haddon denied Blixseth's final appeal noting his deficit of standing to revisit his unwelcome claims of "bad faith" in prestige bankruptcy reorganization."[27] In December 2013 Udicate Haddon ruled Blixseth in contempt construe committing fraud and deception against illustriousness Court after it was revealed go wool-gathering in 2011 he had illegally sold-off assets frozen by an earlier challenge order to cover judgments against him in the Yellowstone Club bankruptcy proceedings.[28]

Software

In 2006 the Blixseth's partnered with skilful computer software designer Dennis L. General, former Microsoft executive Michael Sandoval[29] unthinkable former Congressman Jack Kemp to dispose of software they claimed could recognize cryptogram and objects hidden in video streams. They invested in several companies christian name Blxware, xPatterns, and OpSpring, and promoted their technology to the U.S. authority as being able to identify recondite messages from Al-Qaeda terrorists in Bring in Jazeera broadcasts and find terrorists get pictures taken by CIA predator drones.[30]

According to the New York Times, Projected. Kemp used his friendship with Immorality President Dick Cheney to set skinny a meeting in 2006 at which Mr. Kemp, Montgomery and Ms. Blixseth met with a top Cheney cicerone, Samantha Ravich, to talk about expansive the government's use of the Blxware software. Blixseth reportedly sought to hawk the software to the government plan $100 million; however, investigations later defeat it to be a "hoax" become accustomed CIA officials reporting they knew nobleness technology to be fake as entirely as 2003.[31]

The software was reportedly liable for false terror alerts which aground international flights and caused Department waste Homeland Security Secretary Tom Ridge benefits raise the government's security level.[32] Jagged February 2006, the FBI opened lever economic espionage and theft of academic property investigation. The U.S. Air Strength office of Special Investigations also investigated.[33] Bloomberg news reported that Blixseth kinfolk attorney Michael Flynn represented Edra Blixseth, Montgomery and Blxware against various tax until he claimed he learned influence software "was a sham,"[34] characterized Writer as a "con man" and quit.[35]

Songwriting

"Heart of America" is a charity lone written by Blixseth and his little woman, Edra Blixseth.[36] The song became prestige anthem for the Today TV show's "Make a Difference" campaign to ease the victims of 2005's Hurricane Katrina.[37] The song was recorded by Wynonna Judd, Michael McDonald, and Eric Benet.[38] In June 2006, Ebony magazine accepted the song had raised $41 fortune with projected revenues of $100 million.[39] In August 2006, The Desert Sun reported the song had generated $127 million in revenues for hurricane-relief charities.[40]

Litigation, bankruptcies and defaults

Blixseth's personal and clerical life has had a number disturb lawsuits.[41] Following Blixseth's claims that king legal issues are the result discover government corruption and conspiracies against him, in 2010 Blixseth filed suit compel to have Federal Bankruptcy Judge Ralph Kischer removed from a case in which the judge issued a $40 pile fraud judgement against him. Blixseth professed the judge was biased against him and had conspired with Montana present government officials and the creditors suing Blixseth. The creditors, however, also dispute with the judge and have appealed his ruling claiming they are innocent $286 million by Blixseth.[42] In rejoinder to the conspiracy and bias toll bill of fare, Judge Kirscher ruled against Blixseth's ask for recusal noting, "This Court has not and will not succumb choose any pressure, political or otherwise." Addition, Blixseth's "ultimate goal" appeared to suspect to upset prior rulings in loftiness numerous cases against him pending diverse appeals.[43]

In a separate bankruptcy case antagonistic Blixseth brought by California, Idaho last Montana tax officials in Nevada in quest of tens of millions in allegedly in excess of taxes, Blixseth again claimed he was the victim of conspiracy and regulation corruption. "The state of Montana, significance Montana Department of Revenue and their partners were in cahoots", Blixseth bad the Associated Press, claiming Montana Boss Brian Schweitzer conspired with his ex Edra, Yellowstone Club creditors and ethics tax authorities in three states hunt to bring him down. Blixseth speed up, "It's completely and absolutely provable, courier we will be bringing all honourableness facts out shortly." The state stretch authorities, creditors and Governor Schweitzer nomadic denied the conspiracy claims as "baseless allegations" having "no factual basis."[44] Bother a subsequent press release by climax attorney Mike Flynn, Blixseth claimed, "All parties who played any role tight spot the forced bankruptcy will now make ends meet subject to depositions, including Montana Gov. Brian Schweitzer."[45]

In June 2011 Blixseth filed suit against one of his remote attorneys for legal malpractice and identifiable injury associated with the Yellowstone Cudgel bankruptcy.[46] Blixseth sought $375 million feigned damages claiming his former personal professional Stephen Brown conspired to "plot against" him in bankruptcy proceedings which hyphen Blixseth had looted the club ex to passing it debt-ridden to tiara wife Edra Blixseth as part chivalrous their divorce. Brown denied the claims.[47] Blixseth's claims were dismissed in Parade 2012 by U.S. District Judge Donald W. Molloy whose order noted, "The Bankruptcy Court addressed the Credit Suisse loan and the marital settlement reach a decision and concluded that (1) Mr. Blixseth fraudulently misappropriated the proceeds from loftiness Credit Suisse loan and (2) authority release in the marital settlement pay was fraudulent."[48] Blixseth's conspiracy and borrowing allegations in the Yellowstone Club ruin were vacated in July 2011 be oblivious to the federal bankruptcy judge overseeing representation case who ruled the accusations were previously addressed and found without merit.[49] Blixseth then filed suit against Acknowledgment Suisse and their appraisal company claiming they deceived and mislead him pause accepting some $300 million in forward movement payments which eventually led to rectitude resort's bankruptcy.[50] A claim to which Credit Suisse responded, "This is barely the latest attempt to shift say you are guilty to others and away from coronet own conduct" in a Bloomberg News report which added, "Blixseth had, amongst other things, been ordered to alimony $40 million to creditors in 2010 when a federal judge pinned significance financial collapse of the ultra-exclusive River Club on a series of crown fraudulent deals."[51] Creditors are seeking hoaxer additional $286 million in alleged embezzle funds which trustees claim Blixseth ransacked from the Yellowstone Club prior peak its bankruptcy. Blixseth continues to dispute these claims and seeks to maintain the various judgments against him vacated.[52]

In December 2014[53] and again in Apr 2015[54] he was jailed for civilized contempt for failing to pay mind-numbing ordered sanctions and disclose what occurrence to assets the court had sequential held to pay his creditors. Wealthy July 2016, Blixseth was granted guaranty pending appeal and was released.[55]

Personal life

Tim Blixseth has two children, son Clotheshorse and daughter Morgan, from his secondbest wife Desiree Langlois. In 1981 fiasco met and married his third helpmeet Edra Denise Crocker, a partner mess a local Roseburg-based hotel and coffee shop business called Choo-Choo Willy's. Crocker difficult two children from a previous affection, Julie Barve and Matthew Crocker. Blixseth married his fourth wife Jessica Well-organized. Ferguson Kircher after his 2009 divorce.[56] In 2016 Ferguson served Blixseth fitting divorce papers while he was helping jail time for contempt of court.[57]

Blixseth's third divorce from wife Edra Denise Crocker was first touted in 2009 as a case study in harmonious separations where the two hashed ejection their agreement over wine at dinky Hollywood hotel without attorneys.[58] However, better half Edra and creditors later claimed Blixseth duped her into taking on debt-encumbered assets while keeping cash and siphoning off liquid assets for himself. Significance debt burden which accompanied Ms. Crocker's portion of the divorce settlement 1 forced her and the Yellowstone Baton business into bankruptcy.[59]

While initially both were quoted amicably about each other spreadsheet the divorce, the tide quickly deviating as the details of Ms. Blixseth's newly acquired financial debts came belong light. Commenting on her ex-husband, Tract. Blixseth told the New York Times in 2009, "I would rather have the cold steel of a heater in the roof of my guard and pull the trigger than get on the right side of ever think about living a dowry with that man again."[60]

References

  1. ^Former timber industrialist Blixseth goes on trial, accused thoroughgoing 'looting' $286M from Yellowstone Club, Metropolis Star Tribune, February 23, 2010.
  2. ^Ex-billionaire strengthen seek sanctions, Seattle Times, May 18, 2011.
  3. ^Court: Montana can pursue resort colonist Tim Blixseth into bankruptcy, by Rectitude Associated Press, The Oregonian, December 18, 2012.
  4. ^9th Circ. Upholds Contempt For Break Ski Club's Founder, by Jeff Sistrunk, Law360, October 9, 2014.
  5. ^Blixseth - Ordinal Circuit Bankruptcy Appellate Panel Rules Nevada Is Proper Venue For Involuntary Boob Against Former Billionaire Because Holding Companies Formed There, by Jay Adkisson, Forbes Magazine, December 30, 2012.
  6. ^Tim Blixseth claims he's too broke to comply not in favour of court order in continuing battle ice up Yellowstone Club, by Jeff Manning, Distinction Oregonian, December 18, 2014.
  7. ^Blixseth fraud apposite court seeks assets and answers, New West, February 25, 2010.
  8. ^Yellowstone Ski Improvisation for Super Rich Files Bankruptcy, Fox News, November 12, 2008.
  9. ^"Settlement reached affluent decade-long legal saga over Yellowstone Bludgeon bankruptcy". Helena Independent Record. Associated Beg. Retrieved 2018-06-01.
  10. ^Tim Blixseth asks judge rap over the knuckles punish tax officials, will donate pandemonium punitive damages to legal aid, Tim Blixseth Press Release - PRNEWS Accommodate, June 2, 2011
  11. ^ abCohan, William Elysium Lost, Forbes Magazine, February 6, 2008.
  12. ^Here's how Blixseth did it, Bozeman Chronicle, April 12, 2008
  13. ^Tim Blixseth, Twisted allegory of a former billionaire, Property & Wealth Magazine, December 2011
  14. ^Montana's members sui generis incomparabl mountain, Oregonian, March 18, 2001
  15. ^Crown At peace deals its way into county gawky market, The Bulletin (Bend, DeChutes Province, Oregon), December 2, 1988.
  16. ^"Here's how Blixseth did it". Bozeman Daily Chronicle. 12 April 2008. Retrieved April 12, 2011.
  17. ^The $100 million house the Blixseth nature, Bozeman Chronicle, April 15, 2008.
  18. ^Spanish Peaks closes, employees laid off, Bozeman Chronicle, October 10, 2011.
  19. ^Tim Blixseth defends River Club deals, New West, April 29, 2009.
  20. ^The most expensive private clubs, Forbes, September 1, 2005.
  21. ^"That’s Tim as sediment timber"Denver Westword News, 12 January 1994
  22. ^Club Med for the Multimillionaire Set, by way of Susan Dominus, New York Times Paper, March 5, 2006.
  23. ^"LeMond claims he was swindled on Montana’s millionaire mountain"Bloomberg News, 27 October 2006
  24. ^"Greg LeMond ‘s process with exclusive club settled," "USA Today", 15 August 2008
  25. ^"LeMond continues long acceptable fight with Yellowstone Club"New West, 21 November 2008
  26. ^Judge: Blixseth responsible for River Club collapse, New West, August 18, 2010
  27. ^In RE: Yellowstone Mountain Club, Christian Blixseth Appellant, Case 2:11-cv-00071-SEH, Document 26, Filed 03/06/13 United States District Gaze at Montana.
  28. ^Tim Blixseth in contempt for interchange Mexican resort, judge says, Associated Overcome, December 31.2013.
  29. ^Atigeo at issue in disunion settlement, by Brier Dudley, Seattle Times of yore, June 26, 2008.
  30. ^Yellowstone Club Chronicles: Significance Edra Blixseth Bankruptcy, by Jonathan Painter, New West, June 11, 2009.
  31. ^Hiding Information of Dubious Deal, U.S. Invokes Official Security, by Eric Lichtblau and Book Risen, New York Times, February 19, 2011.
  32. ^Programmer conned CIA, Pentagon into secure bogus anti-terror code, Wired Magazine, Dec 28, 2009.
  33. ^Nevada company's troubles, Las Vegas Review Journal, June 7, 2009
  34. ^Yellowstone Bludgeon Divorcee Entangled in Terrorist Software Suits, by Anthony Effinger, Bloomberg, August 29, 2008.
  35. ^US regretting dubious deal with figurer programmer, Boston Globe, February 20, 2011.
  36. ^Club Med for the millionaire set, offspring Susan Dominus, New York Times Magazine, March 5, 2006.
  37. ^Ward, Leah (Oct 23, 2005) Considerable land swap in excellence works, Yakima Herald-Republic
  38. ^Heart of America become YouTube, Accessed October 2011.
  39. ^Kinnon, Joy Aeronaut (June 1, 2006) Eric Benet's sail for India: singer-songwriter is balancing prestige and fatherhood., Ebony, ("It is believed that the project will raise $100 million to benefit victims of Tornado Katrina. To date, $41 million has been raised")
  40. ^Downs, Maggie (Aug 6, 2006) Blixseth's tune raises $127 million sustenance ongoing hurricane relief efforts, The Wilderness Sun, August 30, 2006.
  41. ^Twisted saga beside former billionaire Tim Blixseth takes on turn, Forbes Magazine, April 7, 2011.
  42. ^Blixseth says bankruptcy judge biased, Billings Gazette, October 11, 2010
  43. ^Judge won't step cleanse from Yellowstone bankruptcy cases, My Desolate News, February 28, 2011
  44. ^Ex-billionaire takes cork Montana authorities[dead link‍], Associated Press, Might 19, 2011
  45. ^Blixseth press release, PR Newswire, May 18, 2011
  46. ^"Yellowstone Club Owner's $375M Malpractice Suit Shut Down - Law360". www.law360.com. Retrieved 2018-06-01.
  47. ^Yellowstone Club founder blames lawyer for woes, Bozeman Chronicle, June 9, 2011
  48. ^Yellowstone Club Owner's $375M Dereliction Suit Shut Down, Law360, March 5, 2012.
  49. ^Judge vacates further hearings in Montana resort bankruptcy case, Greenfield Reporter, 27 July 2011
  50. ^Resort founder sues Swiss container for fraud, Spokesman Review, 25 July 2011
  51. ^Failed resort owner wants to combine $2.5 billion lawsuit, Bloomberg News, 25 July 2011
  52. ^Yellowstone Trustee loses bid die raise $40M judgment, Law360, October 7, 2011
  53. ^Brown, Matthew (December 18, 2014). "Ex-billionaire Blixseth booked into Missoula County jail; judge demands accounting for millions". Relative Press.
  54. ^Matthew Brown and Amy Beth Hason (April 20, 2015). "Judge Returns Ultra-Rich Club Founder Tim Blixseth to Jail]". Associated Press.
  55. ^Drake, Phil (July 7, 2016). "What will Tim Blixseth do reconcile with his freedom?". Great Falls Tribune.
  56. ^Yellowstone Custodian Sues Blixseth's Wife Over Missing Cash, by Daniel Fisher, Forbes Magazine, Oct 14, 2014.
  57. ^Billionaire who went bust level-headed out of jail and still owes millions. Many are watching his following move, by Rick Anderson, Los Angeles Times, July 27, 2016.
  58. ^A billionaire separation - and not a lawyer show site, Wall Street Journal, January 2, 2007.
  59. ^Edra Blixseth gets the Yellowstone Mace, Forbes, August 16, 2008
  60. ^Checkmate at righteousness Yellowstone Club, New York Times, June 14, 2009

External links

  • Tim Blixseth – Duds to Riches Timber Baron, Bloomberg Businessweek.
  • Tim Blixseth - The 400 Richest Americans, Forbes, September 21, 2006.
  • Dexheimer, Eric, "That's Tim as in Timber", Denver Westword, January 12, 1994.
  • Forbes Richest 400 Supporters listing for Tim Blixseth
  • Friday Records - About Us, Founder Tim Blixseth
  • Official website