Eye On Boise

Credit Suisse: 'Meritless' claims are 'attempt to shift blame'

Steven Vames, vice president for corporate communications for Credit Suisse bank, has issued this statement on the latest legal filings in federal court in Idaho, in which Alfredo Miguel, founder and former board chairman of the failed Tamarack Resort in Idaho, and Tim Blixseth, founder and former manager and developer of the Yellowstone Club in Montana, have filed to intervene in a pending lawsuit against Credit Suisse, charging the Swiss bank with fraud, conspiracy and more, in a scheme they charge directly contributed to the financial failure of both resorts:

"Credit Suisse rejects Mr. Blixseth's and Mr. Miguel's entirely meritless allegations and their attempt to latch onto an existing suit which has already seen many of the plaintiffs' claims dismissed. For Mr. Blixseth in particular, this is simply the latest attempt to shift blame to others and away from his own conduct."

The lawsuit's racketeering claim under the federal RICO Act, or Racketeer Influenced and Corrupt Organizations Act, was dismissed in March as not applicable to the case. Other claims, however, including charges of fraud, conspiracy, tortious interference and breach of fiduciary duty, were allowed to proceed. You can read my full story here at spokesman.com.

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Betsy Z. Russell
Betsy Russell covers Idaho news from the state capitol in Boise and writes the Eye on Boise blog.

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