Safa Abdulla Al Geabury (born 5 June 1963) is a Swiss businessman. He is the owner of Safaforex S.A. (formerly Billionaire S.A.A.A.A.A) and made his money in foreign currency dealing and trading in precious stones and jewellery.
Safa Abdulla Al Geabury | |
|---|---|
| Born | 5 June 1963[1] |
| Nationality | Swiss |
| Occupation | Businessman |
| Known for | Gambling |
Career
editAl Geabury made his money in foreign currency dealing and trading in precious stones and jewellery. Safaforex S.A. (formerly Billionaire S.A.)[2] is a firm that imports and exports precious stones and jewellery.[3]
In 2006, the Swiss authorities sought the extradition from the United States of Yu Mei Wu, a Taiwanese national, who was alleged to have fraudulently obtained jewellery worth more than US$32 million from Al Geabury.[4] He was a director of Kingdom of Treasures Limited which was dissolved in 2011.[1]
London
editAl Geabury formerly divided his time between Geneva and London, with a home in London's exclusive Grosvenor Square and later Sloane Street. In 2015, Al Geabury was sued by The Ritz Club, located in the basement of The Ritz Hotel owned by the Barclay Brothers, for £2 million after a cheque he had written to settle gambling debts incurred in 2014 in one night's play at roulette, was not honoured.[5] Al Geabury has claimed that he suffers from a gambling addiction and the club should have known that and not extended him credit.[6][7][8] In July 2015, a judge ruled that Al Geabury should honour his debts, commenting that he was "the author of his own misfortunes".[9]
In November 2015, a worldwide freezing order was imposed by a British court for £2.6 million but no money has been paid. In court proceedings in London in April 2016, for which Al Geabury was not present, he was sentenced to 10 months in jail for contempt of court for failure to settle his gambling debts which with interest and court charges have risen to £3.2 million.[5]
Wealth
editIn a British court in June 2015, Al Geabury accepted that his wealth, including his collection of Islamic art, was in excess of $1 billion,[10] however, in court proceedings in London in April 2016, at which Al Geabury was not present, it was claimed on his behalf that the art collection was only promised by an uncle and that he does not have it. It was also said that he had no assets worth more than £20,000.[5]
References
edit- ^ a b Safa Abdulla Algeabury Company Check. Retrieved 14 June 2015.
- ^ Safaforex, Société Anonyme, Vaduz, succursale de Genève. moneyhouse. Retrieved 14 June 2015.
- ^ Safa Abdulla Algeabury. Offshore Alert. Retrieved 14 June 2015.
- ^ Swiss authorities seek extradition of prominent Taiwanese alleged jewellery thief. David Marchant, Offshore Alert, 7 December 2006. Retrieved 14 June 2015.
- ^ a b c "Billionaire" gambler jailed for flouting court orders", The Times, 8 April 2016, p. 13.
- ^ Tycoon wants Ritz debts written off and claims: 'Casino should not have let me lose £2m' Paul Cheston, London Evening Standard, 11 June 2015. Retrieved 14 June 2015.
- ^ "Gambling addict plea", The Times, 12 June 2015, p. 4.
- ^ Ritz Club Sues Tycoon Safa Abdulla Al Geabury Over £2 million Gambling Debt, Casino.org, 13 June 2015. Retrieved 15 June 2015.
- ^ Ritz casino wins £2m in court from 'gambling addict' billionaire. Owen Bowcott, The Guardian, 31 July 2015. Retrieved 3 August 2015.
- ^ 'The devil made me do it': Billionaire who blew millions gambling refuses to pay casino debt. John Shammas, The Mirror, 29 June 2015. Retrieved 1 July 2015.
External links
edit- "Sister Likes Pearls, So Kuwaiti Pays a Record $865,000 for Birthday Gem", latimes.com. 13 May 1988. Accessed 12 April 2024.