Safa Abdulla Al Geabury, a property tycoon and a gambling addict, could go to jail for failing to pay his debt of £2.2 million he piled up when gambling at Ritz Casino. After racking up this huge debt he blamed the casino for allowing him to continue gambling. However, the court rejected his claim and Al Geabury must pay the multimillion pound debt. Now, because he failed to return the money, he could be facing jail.
The billionaire businessman didn’t attend the court hearing when his case was discussed. He said that he could not afford the flights. Still, the judge went ahead with his case, saying that if Al Geabury wanted to show up at the High Court he could because there is ‘evidence of big capital wealth’.
The defendant is currently living in Switzerland and has a home in Grosvenor Square, Mayfair.
Mr. Justice Spencer said that he is 100% sure on all the evidence that Al Geabury had been made fully aware of his obligations to give information about his assets worldwide. “I’m also sure that he received the order by solicitors in a timely manner and that he was well informed about the relevant terms and conditions of the order,” he said. “I believe that Mr. Al Geabury deliberately decided to shut his eyes and refused to comply with the orders and fulfill his obligations.”
According to Al Geabury, the people at the casino should have known about his gambling problem and he tried to counter sue Ritz Casino for £5.4 million. However, his claims were rejected by the court.
Safa Abdulla Al Geabury is a Swiss billionaire and owner of the Safaforex S.A. He made his money by trading with foreign currency and valuable jewelry and stones.