A Syrian born millionaire has been told by a judge to pay £2 million for a gambling debt.
The gambler known as the ‘fat man’ refused to pay the extortionate sum after he was involved in an argument with one of the croupiers. At a single bout of blackjack, he lost £2 million in one evening. He wrote out a cheque to cover the debt but cancelled it shortly afterwards claiming that he was unhappy that he never received the replacement croupier that he had requested.
The fat man’s bad luck increased in size after he went through a twelve year period of subsequent losses at Aspinalls, Mayfair costing him £23 million. He refused to settle the £2 million outstanding debt and as a result, was refused credit. However, he continued to feed his addiction using £41 million in debit cards and cash. Out of this sum, he won just £10 million. Yet, the gambler still did not seek gambling or debt help.
As the debt had been outstanding since March 2000, the owner of the club sent a letter requesting settlement. He also applied to the court to place a freezing order on the fat man’s assets which included a £158,000 Rolls Royce and a Boeing 747.
Debt and Gambling: the law has the last word
Gambling debt cannot be retrieved through court unless the matter involves casinos. In this instance, a gambler has to purchase chips which are part of a service.
Although the ‘fat man’ has been known to be exceedingly generous with his money, even offering £1000 tips to a waitress who brought him tea and biscuits, the generous gamester, is not so keen to cough up £2 million for an addiction that he is finding difficult to come to terms with.
For most people, gambling with this amount of money would be unrealistic. Regardless, gambling is a compulsive addiction that compels you to spend more than you earn. If gambling has gotten you into debt, seek debt advice.
