Fouad al-Zayat
Fouad al-Zayat (born 1941) is a Syrian businessman, investor and gambler. He acquired his fortune over a period of 50 years in international business and founded the company Mortimer Off Shore Services Ltd. now run by his son and son-in-law. al-Zayat requested the assistance of the U.S. Supreme Court in securing a payment of approximately $8 billion on German bonds that Adolf Hitler ordered into default prior to the Second World War.[1]
According to Reuters, during the Greece corruption trails al-Zayat was "tried in absentia and sentenced to life for bribery and 17 years for money laundering".[2]
Personal life
al-Zayat has 6 grandchildren.
Gambling
al-Zayat is also known for his lavish gambling and is considered a whale in the casino industry. Between 1994 and 2006 al-Zayat wagered £91.5 million at the Mayfair club Aspinall's and lost £23.2 million. In 2006, Aspinall's sued al-Zayat for £2 million plus £50,000 in costs due to gambling debts incurred from blackjack losses in 2000.[3][4] al-Zayat was court ordered to pay the debt, but later appealed. The appeal was successful and the ruling was overturned in 2008 under the pretense that the credit given was unlawful under the Gaming Act.[5]
References
- ↑ Westbrook, Jesse (16 February 2011). "Al-Zayat Takes $8 Billion German Bond Claim to U.S. High Court". Bloomberg.com. Retrieved 2016-03-17.
- ↑ Editorial, Reuters (2015-02-11). "Cypriot ex-minister and son jailed in Greece over arms kickbacks: court". Reuters. Retrieved 2016-03-17.
- ↑ Moore, Malcolm (6 March 2007). "No more London bets for me, says The Fat Man". Telegraph.co.uk. Retrieved 2016-03-17.
- ↑ Barnett, Antony (2007-03-03). "The Fat Man's US gamble backfires". the Guardian. Retrieved 2016-03-17.
- ↑ Beth Hale (2008-09-04). "Billionaire gambler they called the 'Fat Man' wins court bid to avoid paying £2m casino debt for 'unfair game'". Mail Online. Retrieved 2016-03-17.