The new Chairman and CEO of super-rich-people TV network Plum TV, Jerry Powers, has finally agreed to fork over the $1.2 million he lost playing blackjack at the Mohegan Sun.For 18 months, Powers has done everything he can to avoid paying his debt, including filing pathetic legal claims.
The latter alleged that the Mohegan Sun had no right to sue him to collect the money because it is a sovereign Indian nation and that, by allowing him to lose $1.2 million on credit, the Mohegan Sun had engaged in an illegal gambling contract.
Fortunately, a judge saw through this absurdity, and is making Powers pay up.
Powers might have continued his campaign to welsh had the board of Plum TV not intervened and made him settle.
A spokesman blamed the huge gambling loss on a “dark period” in Powers’ life two years ago in which he was suffering from substance abuse. In other words, he was smashed. The spokesman had no comment on why Powers has so far refused to take responsibility for his actions.
Powers made a small fortune selling Ocean Drive Magazine to Greenspun Media Group for $33 million. He invested in Plum TV five months ago and took over as CEO and Chairman. He has since begun moving the company beyond cable TV into luxury magazines.
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