Billionaire loses millions in a lawsuit
09 August 2015
A Swiss businessman, who had lost over £ 2 million one evening, while playing roulette at the Ritz Casino in London, had to answer to a court because he let the check burst. He wanted to convince the court that he has a tendency towards gambling addiction. Safa Abdulla Al-Geabury, who owns residences in Chelsea, London and Geneva, mentioned a “desperate gamble intoxication” which led to be “frenzied and uncontrolled”, that occurred when he was playing at the casino of the Ritz Club on the Mayfair Roulette. On the evening of February 19, 2014, after he was at a football match of Arsenal, Al-Geabury went to the casino and signed a check in exchange for roulette chips, but the casino never received the money. Even later he took a further £ 5 million loan out, which was refused when requested by him. Kevin Pettican, the lawyer of the defendant had also pointed out that Al-Geabury has a problem with gambling for a long time now and therefore ran a voluntary suspension in all London casinos and clubs. The businessman from Switzerland then went in the offensive and filed a countersuit. He wanted to get reimbursed by the casino for his losses of the previous years which adds up to £ 3.4 million pounds. The judge completely disagreed with the arguments of the billionaire and the case of the businessman got dismissed. She said that it would be his task to inform the staff of the Ritz himself about his gambling problems and the casino ban, and that he alone bears the blame for the loss. Now, according to the court verdict, El-Geabury has to pay his gambling debts including interest and he will not get any compensation either. Al-Geabury is an international businessman, operating the financial world, whose fortune, including his art collection, is estimated to be more than US $ 1 billion.