Bellagio sues Stanford over gambling debt -- and his lawyer cracks wise


Alleged Ponzi schemer Robert Allen Stanford has been sued for $258,480 in gambling debt by MGM Mirage (MGM)'s Bellagio hotel, a leading Las Vegas casino. The debts were incurred while Stanford was on vacation with his fiancee in January.

What does Stanford defense attorney Dick DeGuerin have to say about this? You're probably expecting a no comment -- or possibly a denial. Or maybe he'll refer the matter to someone else. Right?

Nope. In an e-mail to The New York Post, DeGuerin was about as any candid as you will ever see any lawyer get: "The Bellagio should sue the receiver. It's a valid debt and should be paid along with the others, but good luck in getting the receiver to do it. Maybe the Bellagio should revert to the time-honored method of Vegas debt collection and send someone to make the receiver an offer he can't refuse, or just break his legs."

Well then. I somehow doubt that -- with the losses from the alleged Ponzi scheme estimated to be running into the billions -- the receiver or any court or judge in the land will give a gambling debt priority over the honest people who lost money investing in what they thought were perfectly safe CDs.

Either way: Dick DeGuerin is now my favorite lawyer.

Originally published