C
Cao Pi
Guest
Friday August 20, 2010
Man who lost RM62mil gambling to sue casino
A RICH Singaporean man, who lost S$26mil (RM62mil) in a three-day gambling spree, plans to sue a world-renowned casino there for loaning him a huge sum of money to gamble without first checking his financial position, reported China Press. According to a legal document, the 50-year-old businessman, was loaned S$500,000 (RM1.2mil) for gambling by the casino in March and the loan was later increased to S$2mil (RM4.8mil) the following month.
He also claimed that he had experienced losing and winning money amounting to a few hundred thousand dollars in each gambling session and once it reached as high as S$6mil (RM15mil) and yet he could still get a loan by just filling up an application form.
When his losses exceeded S$4mil (RM9.6mil), the businessman said his girlfriend cried and begged the casino not to loan him any more money. In spite of that, the casino staff told him that he could continue getting loans although he had exceeded the credit limit. A spokesman of the casino said the company could not comment on their customers.
