Tuesday, March 29, 2011
WILL POWERS PAY THE MOHEGAN SUN $1.2 MILLION HE OWES?
Gambler said to be willing to pay $1.2 M debt to Mohegan Sun By Brian Hallenbeck Publication: The Day Published 03/24/2011 12:00 AM Jerome Powers, the cable TV executive who allegedly owes Mohegan Sun $1.2 million in gambling debts, reportedly plans to pay up. The New York Post, quoting an unnamed spokesman for Plum TV, the New York-based cable network Powers co-chairs, reported Wednesday that Powers "is currently in settlement discussions with Mohegan Sun to drop his appeal and pay his gambling obligations in full." Attempts to confirm the report with Plum TV and attorneys involved in a lawsuit Mohegan Sun brought against Powers in New London Superior Court were unsuccessful. A call to the network's corporate offices was referred to network President Rob Gregory, who was out of town and did not answer a message. Thor Holth, the New London attorney representing Powers, was unavailable to comment, and Andrew Houlding of Rome McGuigan, the casino's attorney, indicated that he could not comment. Powers, 64, of Miami Beach, Fla., has appealed a Superior Court ruling that gave Mohegan Sun permission to attach $1.2 million worth of Powers' assets pending the outcome of the case. Holth filed the appeal with the state Appellate Court last week. Mohegan Sun filed suit against Powers in December 2009, alleging he made out six checks to the Mohegan Tribal Gaming Authority on May 23, 2009, all of which a bank returned unpaid when the casino deposited them. According to court records, payment was stopped on one of the checks, for $465,000, while the other five, ranging from $60,500 to $300,000, were returned because the accounts on which they were written had been closed. In a separate count, the suit alleges Powers "over-drafted" his Mohegan Sun Player's Card account by more than $55,000, of which he repaid $25,000. The suit says Powers signed a Casino Credit Agreement that authorized the authority to collect debts in the Mohegan Gaming Disputes Court "and courts of the state of Connecticut." Powers is identified on the credit agreement as the owner of Ocean Drive magazine, a publication he reportedly sold for more than $33 million in late 2007. Powers later became co-chairman and chief executive officer of Plum TV, a lifestyle network "that targets the most active, influential, and educated audience in the world," according to its website. The network is available on cable systems in Miami Beach; The Hamptons on Long Island; Nantucket and Martha's Vineyard in Massachusetts; Aspen, Telluride and Vail, Colo.; and Sun Valley, Idaho. Plum also publishes a glossy Miami, Fla., magazine. email@example.com EDITORIAL FOOTNOTE: Who allowed the casino to take these checks? Doesn't anyone know how a check cashing service works? Who did this? Do you know? What do you think?