BILLINGS – A Las Vegas investor who owes $2.2 billion to a Nevada company was arrested in Montana near Yellowstone National Park on a bench warrant from a federal bankruptcy court.
The Billings Gazette reports 47-year-old Raymond Ngan was arrested in Gardiner last week and appeared in federal court in Billings on Monday.
According to court documents, the bankruptcy court in Las Vegas issued the contempt of court order last month after Ngan failed to appear for three hearings.
A Nevada court ruled last year that Ngan owed more than $2.2 billion to First 100 LLC.
Ngan told Judge Timothy Cavan at the hearing Monday that he had been unaware of the court orders.
The judge ordered Ngan to be released, saying he did not have authority to hold him.
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