By Silvia Martelli (July 4, 2022, 3:56 p.m. BST) – Robert Tchenguiz owes £1.3 million ($1.6 million) in unpaid debt to an online betting platform, a court has ruled after finding that the he company had not failed to live up to its obligations to inform the tycoon of the contractual conditions of its position as a “professional client”.

Real estate tycoon Tchenguiz must repay his negative account balance to CMC Spreadbet PLC after his bets on a rail and bus company went wrong in March 2019 following the COVID-19 stock market crash, David Elvin QC, sitting as Deputy High Court Judge, said on Friday.

The spread betting platform — an arm of…

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