March 24, 2006

He’s either stubborn, or really unfortunate.

Filed under: crime — Alex @ 12:52 am

(AP) PHILADELPHIA — A millionaire jailed for more than a decade for contempt in his divorce case continues to block efforts to trace his missing assets and should remain jailed, a three-judge panel ruled.

H. Beatty Chadwick, 68, is believed to hold the record for time served in a U.S. civil contempt case.

He was jailed in 1995 for allegedly hiding $2.5 million in overseas banks during a bitter divorce. Since then, a series of judges have told him he could go free once he tells the court what happened to the money, but Chadwick hasn't budged, the judges said.

Chadwick, a former corporate lawyer, maintains he lost the money in an overseas investment. Experts say it would now be worth more than $8 million.

Butlan Declares:  But what if the guy's telling the truth?  What if he's just a bad investor?