Sadek
Beleaguered former subprime lender Daniel Sadek owes the Bellagio Casino and Hotel in Las Vegas $134,467 according to a judgment filed in Orange County Superior Court.
That new debt comes on top of $2.3 million in bills Sadek owes for unpaid taxes, mortgages and homeowner association dues, as reported in an Orange County Register investigation.
A judgment filed in Clark County, Nevada, court said Sadek ran up $100,000 in debts in November 2006. He initially paid off $15,000. But his debts to the casino grew fatter because the Bellagio charged Sadek 18 percent interest plus $17,000 in attorneys fees.
“None of your business,” Sadek said when asked about the latest judgment, filed Dec. 30.
Alan Feldman, a Bellagio spokesman, said he could not comment on the case because it is still in litigation.
Sadek, of Newport Coast, founded Quick Loan Funding, a subprime lending company that wrote $4 billion in mortgages between 2002 and 2007.
In December, the California Department of Corporations revoked Sadek’s lending and escrow licenses. Investigators concluded he used funds from his company, Platinum Coast Escrow Inc., to take out markers to cover gambling at the Bellagio, the Venetian Hotel and Casino, and the Wynn Las Vegas, among other offenses.
Related stories …
- How Citi bailed out an O.C. subprime lender
- I smelled trouble with car wreck
- High roller of home loans
- Behind the wheel of ‘Redline’
That face. Ewwww.
It dosen’t sound like this guy is very lucky in Vegas, hope he has better luck with his legal issues he will be dealing with in the future. He may want to shave and get a haircut before he goes to court/jail.
Is that all? Man so what, who cares,This is news?
Sadek is right … it is “none of your business”. Can’t the OCR find something more worthwhile to put on this site?
When in Vegas,……Stick with the penny machines!
Bunk up with Madoff in prison Dan.
My guess is he won’t be seen at any MGM resorts for awhile..
What an idiot.
my heart bleeds for him-maybe momee will bail him out,but I doubt it,he might take a one way ride to reno
He does look scuzzy, doesn’t he? It’s time that guy grew up, cut his hair, and paid the piper. He’s not a rock star and his scuzzy appearance isn’t helping his case with his creditors.
Sadek is heading on a long, lonely downward spiral. It’ll only be a matter of time before he’s found hanging from a rafter of a rented-out bungalow in the seedy part of Santa Ana. Hey, at least he’s got a wrecked Ferrari to brag about…
Rat face! He lost his car sales lic. for fraud.
This is the funniest thing ever!
You mortgage idiots actually thought you were smart, rolling in your nice cars and buying all your lavish stuff? How dumb do you feel now? Having ALL that and not only losing everything but being in the hole more than you were when you were poor.
I’m laughing all the way to the bank… hahaha!
He looks like Dave Grohl from Foo Fighters.
It seems like alot of money , but when this guy was producing billons in mortages its just a drop in the bucket,
The problem for this guy or anyone else is when you have your main income pull out from under your feet overnite, its hard to change life style over nite
this guy even made a movie call red line ,
Isn’t he the owner of Tentation, Ten and Panini in Newport? I’m pretty sure they can recover that amount and any other amounts if they seize the funds/profit from those establishments. Not sure how they are financially doing.
I wonder if he knows the 60″s are over?
Owe money to the banks? No big deal! Don’t ever short change the casinos! They don’t play nice…….
I was there the day he picked up his Porsche Carrera GT. I told my buddy that we’d be reading about this guy real soon. He was a total greaseball then and still is. Take a bath, please!
He gives drugs a bad name.
OK, so this guy is just another crook. Now that he has all these judgments against him, I wonder how long it will take him to take up residence in some other country. It’s popular for people to come to the US, run up LOTS of debt and then just run out. Next thing you know he will be back with a whole new name!!
daniel don’t woory god with u.
in life we have night and dark, sun and moon
one day u will be daniel like before and u know your real frineds
concentrate and be patient
hey daniel you should off stay working for me at toyota of orange, your buddy Jim B