GAMBLING ADDICTION CLAIM MAY COST RITZ CASINO £2.2 MILLION

Published on July 3, 2015 in Industry News

RitzSafa Abdulla Al Geabury, Swiss property tycoon and the owner of Safaforex S.A., is being sued by The Ritz Club, one of London's famous high-roller casinos

The reason? Al Geabury handed over a £2 million cheque to The Ritz Club after a massive gambling spree in February of 2014. The dud cheque bounced when Ritz staff attempted to cash it the following day.

While an amount of just over £2 million may not seem to be an impossible sum for a businessman such as Al Geabury who lives in one of the most expensive housing areas in London, The Ritz Club has had to sue in order to get him to honour his debt.

Despite Al Geabury's obvious wealth, he refuses to pay the debt owed to The Ritz Club as he claims that he was "in the grip of a gambling addiction at the time".

Al Geabury is refuting their claim of £2.2 million (the original debt has already accumulated more than £200,000 in interest), by stating that staff at The Ritz Club should have known that he had a gambling problem, and had a duty to stop him from spending as much as he did.

While presiding over a pre-trial review of the case at the High Court, Mrs Justice Simler said: "The essence of the issue at trial is whether Mr Al Geabury has a gambling addiction and the claimant's knowledge of that."

The full hearing for the case will commence at the end of June 2015 and it will then be determined by experts and via psychiatric reports that have been commissioned whether or not Al Geabury was truly suffering from a gambling addiction.

This will also determine the strength of his defense and it will then be decided if Al Geabury should be held responsible for his debts or not.