Once-bankrupt Utah investor wants to buy broke Idaho resort, says he’s the ‘comeback kid’
By APThursday, August 12, 2010
Bankrupt Utah investor seeks comeback in ID resort
BOISE, Idaho — A Utah investor who lost a $5 million private jet, a luxury car and his membership in the Utah Jazz’s premier fan club amid bankruptcy contends his company will resurrect a moribund central Idaho ski and golf resort.
James Thomas Bramlette of the Pelorus Group says he’s the “comeback kid” and that he has assembled investors with the financial power for the deal.
The group has offered an undisclosed sum to buy bankrupt Tamarack Resort, north of Boise. The resort is languishing under more than $300 million debt and unpaid bills.
Some Tamarack homeowners now are concerned about Bramlette’s past financial turmoil, which included losing his $450,000 car last year to bankruptcy.
Bramlette also is involved in another Idaho development that is at the center of a federal lawsuit. Plaintifs say they were misled into an investment that soured.
