Canadian Gambler Files to Bankruptcy to Avoid Paying $12.9 Mil Casino Debt

Written by :

Ace King

Published on :

10 February, 2014

Canadian gambler and real estate tycoon Semion Kronenfeld has filed for bankruptcy protection in the US with hopes of avoiding the payment of a $12.9 million debt to MGM Grand and Venetian Hotels in Las Vegas.

The 43-year-old is facing decades in prison following a grand jury decision and an arrest warrant has since been issued.

The case against Kronenfeld has lingered on since 2008.

Kronenfeld faces 12 counts, including theft and obtaining money under false pretenses, for failing to pay the two casino establishments.

The deadbeat gambler initially filed for protection from creditors in Canada in 2009 with more than $21 million in gambling debt, according to The Toronto Star newspaper.

The case is among the largest casino debt cases to reach court in Nevada. Kronenfeld’s whereabouts were not exactly known at the time of the filing.

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