TV Executive Settles Multi Million Blackjack Debt with Three Casinos
Sep 2, 2011
A top executive with Plum TV finally decided to settle his debt with a Connecticut, Atlantic City and Las Vegas casinos for over $2.2 million after initially refusing to pay.
Jerry Powel, 65, initially accused the casinos of taking advantage of his state of high intoxication while in the middle of a hardcore benders by allegedly giving him large advances on credit. The Connecticut state court ruled against Mr. Powers, ordering him to pay the debt.
According to casino gambling news, it was a difficult case to prove for Mr. Power, as he was also being sued by Atlantic City’s Taj Mahal Casino for a million dollars and for an undisclosed sum by Bellagio Casino in Las Vegas.
Powers, a Miami Florida resident, should not be short of money. Just four years ago he sold Ocean Drive for $33 million and has subsequently expanded into magazine and film investments. A clue could be found in Jerry Power’s past – a long lasting love affair with the Bolivian marching powder, which resulted in 13 incidents of unpaid debts between 1977 and 1984.
Mr. Powers, in an interview with New York Times two years ago stated “I was dependent on drugs when I did those things. I was stoned and broke. There is no question I wrote checks even though I didn’t have money to cover them.”
Now it seems either the white powder is back or there are other issues since 30 years later the bounced checks have returned in full force. Mr. Power is doing one thing correctly.
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At the end Mr. Power came through and covered the $1.2 million debt to Mohegan Sun and the Bellagio and Taj Mahal debts as well.
“It was a chapter. It was closed. Everybody’s paid, and I’m really happy about it,” Mr. Power told the AP.
The bad checks may still because a problem in Mr. Power’s future, as writing bad checks is still a crime in some jurisdictions.
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