Millionaire Prefers 10 Years in Jail to Paying Ex-Wife

Man, 68, spends a decade in jail rather than disclose assets

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.

Details here from the AP via CNN.com.