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Gambler told to honor debt

UNITED KINGDOM – As reported by the UK Evening Standard: "A gambler who refused to honour a £2 million casino debt has been told to pay up by a judge.

"Fouad al-Zayat, a Syrian-born billionaire known in gaming circles as the 'Fat Man', withheld the cash in a row over a croupier.

"The dispute came in the middle of a 12-year run of losses at Aspinalls in Mayfair that cost him £23 million. While the debt remained unsettled, Mr al-Zayat used cash and debit cards to stake £41 million at the casino and lost £10 million.

"But last year Damian Aspinall, the London club's owner, issued a writ for payment of the debt that dated back to March 2000. He also won a freezing order on Mr al-Zayat's assets which include a Boeing 747 and a £158,000 Rolls-Royce.

"…Mr Justice David Steel ruled against Mr al-Zayat, who owns an aviation company and has homes in Cyprus and London…"

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