Arizona Charlie’s loan in limbo

Friday, July 31, 1998 | 6:29 a.m.

A $92 million loan Becker believed he had procured from United Healthcare Financial Services LLC, of Southern California, was withdrawn last week. United Healthcare alleged Arizona Charlie's financial condition was insufficient to service the loan; Becker threatened possible legal action against the mortgage lender, which had promised the loan since early February.

A United Healthcare attorney said the loan was not authorized and that the United Healthcare employee who promised the loan has been terminated.

According to the terms of an agreement reached last month between Becker and billionaire Carl Icahn, who owns a majority of Arizona Charlie's debt, Becker must receive financing today or he will lose the resort to Icahn. Neither Becker nor his attorneys returned calls for comment.

archive