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U.K. Casino Sues Over Bounced Cheques18 March 2002UNITED KINGDOM—As reported by This is London: "One of Britain's biggest gamblers who has laid bets worth £21 million(US$30 million) in cash at the country's top casino has had his assets, including a private Boeing 727 and £158,000 (US$ 225,107) Rolls-Royce, frozen in a High Court writ over unpaid gaming debts. "Fouad Al Zayat, affectionately known on the London gambling circuit as The Fat Man, is being sued by the Ritz casino over £2 million (US$2.8 million) in bounced cheques in the biggest court action of its kind. "…The fact that his gambling habits have been made public because of the legal action demonstrates the casino's anger. It is extremely rare for a gaming establishment to reveal the identity of its clients, let alone their spending activities. "…Last month Mr Al Zayat was served with court papers at his apartment in the Grosvenor House hotel on Park Lane. These revealed how he gambled £21 million after he became a member of the Ritz in 1998. "…Nine months ago the Ritz agreed to let him use cheques. But over the next few weeks, Mr Al Zayat gave the casino seven cheques in exchange for £2 million-worth of chips and the writ alleges that all the cheques bounced. "The casino has obtained orders freezing Mr Al Zayat's bank accounts in London, the Isle of Man, Geneva and Cyprus. "…If the case goes to court, it is set to give a rare insight into the extravagant lives of the `whales' - those high rollers of the gambling world which number media tycoon Kerry Packer, the Sultan of Brunei and Saudi Arabian businessman Adnan Khashoggi…" |