Fat Man avoids paying £2 million gambling debt
4th September, 2008
Known as the Fat Man, a billionaire gambler avoids having to pay off a £2 million gambling debt after having a huge losing streak at a London-based casino.
Frouad al-Zayat, a 66-year-old businessman, lost a massive sum of money in one night, wrote a cheque for the losses but told the bank to cancel it. After many attempts to get the wealthy man to pay up, the casino took him to court, but ended up losing the case.
Al –Zayat said that he did not feel he should have to pay his gambling debt because the game he played wasn’t fair and that he did not enjoy playing it. With his logic, he believes that since the casino did not provide the kind of gambling experience he wanted, he shouldn’t have to pay for it.
“Casinos give a service, and if the service is not good, considering the prize which you are paying, then you do not pay,” al-Zayat said. “If you go to a restaurant and you do not like the food, you do not pay. If you go to the whorehouse and do not get the pleasure you were seeking, you do not pay.”
The case was actually won because of a technicality in it. The credit that the casino gave the billionaire was unlawful under the Gaming Act and, therefore, the cheque he wrote did not have to be enforced.
“This is one of those cases which have everything to do with law and nothing to do with justice,” said Justice Teare, who ruled in the case.
So the billionaire wins the case, but not because of his twisted logic, which I would not recommend buying into because if you lose money at a casino, you lose money. There is no question of whether or not you want to pay for it. This case was only won because exceptional circumstances in the case.
If you would, however, like some information on the best gambling sites, visit GamingAlerts.co.uk.
By Michael
