Las Vegas man with $2.2B debt freed after arrest in Montana
BILLINGS, Mont. — A Las Vegas investor who owes $2.2 billion to a Nevada company was freed by a Montana judge on Monday after being arrested 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 Clark County judge 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.
An attorney for First 100 LLC disputed that account, saying the company had tracked Ngan down on multiple occasions to serve him with papers and predicting he would flee if he was released from custody.
The judge ordered Ngan to be released, saying he did not have authority to hold him.
