Updated 

Gambler racks up $12.9 million debt, indictment in Las Vegas


A Canadian real estate businessman was indicted by a grand jury on charges he failed to pay back $12.9 million in gambling debts to two Las Vegas casinos, Clark County prosecutors Wednesday.

Semion Kronenfeld faces 12 counts, including theft and obtaining money under false pretenses, for not paying off $7.9 million in markers to the Venetian resort and $5 million in markers to the Green Valley Ranch Resort, according to the seven page indictment.

The case has languished in Las Vegas Justice Court since Kronenfeld was first charged in 2008.

According to the Toronto Star, Kronenfeld, who is in his 40s, declared bankruptcy in 2009, blaming the global recession. He also blamed his more than $21 million in gambling debts at casinos across North America for their constant incentives to gamble.

Contact reporter Francis McCabe at fmccabe@review journal.com or 702-380-1039.

 

Comment section guidelines

The below comment section contains thoughts and opinions from users that in no way represent the views of the Las Vegas Review-Journal or Stephens Media LLC. This public platform is intended to provide a forum for users of reviewjournal.com to share ideas, express thoughtful opinions and carry the conversation beyond the article. Users must follow the guidelines under our Commenting Policy and are encouraged to use the moderation tools to help maintain civility and keep discussions on topic.