Behind every billionaire there is a story!

‘Fat Man’ wins legal battle over £2m gambling debt

A billionaire gambler today won a legal bid to avoid paying a £2 million debt to a London casino.

Fouad al-Zayat, who is known in gambling circles as the “Fat Man”, had contested a claim by Aspinall’s, the Mayfair gaming club, over the sum, which he lost in a single night on March 10, 2000.

But Mr Justice Teare rejected a counterclaim by Mr al-Zayat, who is based in Cyprus, for the return of another £10 million, which he said was lost during a period of “unlawful credit”.

Mr al-Zayat had paid by cheque for his £2 million in chips but when it was presented four days later, it was dishonoured on his instructions, the judge, sitting at the High Court in London, said.

read the rest published by Times here:

http://business.timesonline.co.uk/tol/business/law/article4668226.ece