Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterPhilanthropist allegedly owes $14.7 million to Rio, Caesars
Wednesday, Feb. 4, 2009 | 2 a.m.
Terrance Watanabe, president of Oriental Trading Co. of Omaha, appears in a 1995 file photo from the Omaha World-Herald.
Sun Archives
- Feds press probe of ex-Fry’s executive (2-2-2009)
- Casino profile details luxurious lifestyle of former Fry’s executive (1-14-2009)
- Feds looking into high roller’s debt payments (12-31-2008)
- DA says Fry’s executive was major debtor in Las Vegas (12-25-2008)
- Fry’s exec arrested in alleged $65 million scheme to pay off gambling debts (12-22-2008)
Beyond the Sun
In its largest criminal case ever, the district attorney’s bad check unit is seeking a felony arrest warrant for a high-rolling philanthropist who owes $14.7 million in Las Vegas gambling debts.
According to prosecutors, Terrance K. Watanabe, 52, of Omaha, Neb., owes the massive debt to Caesars Palace and the Rio, which are owned by Harrah’s Entertainment Inc. On top of that, Watanabe now is to be billed a state-mandated fee for the bad check unit’s handling of the case. Because the fee is based on the size of the debt, the amount for Watanabe is $1.48 million.
Watanabe has lost in excess of $100 million in a whirlwind of gambling in Las Vegas over the past few years, according to a knowledgeable source.
Watanabe’s wealth comes from the Omaha-based Oriental Trading Co., a wholesale novelty importer founded by his father. The younger Watanabe ran the company from 1977 until 2000, when he sold it. He has his own charitable trust foundation and is known as a generous donor to nonprofit organizations.
Chief Deputy District Attorney Bernie Zadrowski, who runs the bad check unit, said Tuesday that he decided to proceed with the criminal case against Watanabe after months of negotiations failed to result in an agreement to pay off the Caesars Palace and Rio debts. “The state has to move forward,” Zadrowski said.
Harrah’s, he explained, had first asked the district attorney to open a criminal case last May. In Nevada, unpaid casino markers can be prosecuted as bad check cases.
Prosecutors on Tuesday sent the Watanabe case to Las Vegas Justice of the Peace Bill Jansen, who is being asked to issue the arrest warrant. The approval process usually takes several days.
Watanabe’s Las Vegas attorney, David Chesnoff, said he hopes to strike a deal with the district attorney to allow Watanabe to turn himself in at the Clark County jail and be immediately released on bail after going through the booking process.
Chesnoff acknowledged that Watanabe has been a prolific gambler here.
“Casinos in Las Vegas and the taxpayers have benefitted from his play over the years,” Chesnoff said, adding that the Nebraskan “is very well-liked by the employees of the gambling industry.”
“We’re looking forward to going to court,” Chesnoff said, “especially with respect to the issue of whether or not he had the intent to avoid his obligations.”
Under state law, Watanabe is only guilty of the all the charges if he intended to defraud the casinos.
Watanabe is facing a four-page complaint prepared by the district attorney charging him with two counts of theft and two counts of passing bad checks at the Rio and Caesars Palace in 2007.
He allegedly obtained $2.7 million in markers from the Rio by writing eight bad checks from Oct. 22 to Nov. 26, 2007, according to a copy of the complaint obtained by the Sun. He obtained another $12 million in markers from Caesars Palace using 30 bad checks from Nov. 11 to Dec. 11, 2007, the complaint charges.
The checks, the complaint notes, ranged from $200,000 to $875,000.
Harrah’s spokesman Gary Thompson declined to comment on the Watanabe case.
This isn’t the first time Watanabe has run afoul of the bad check unit.
It opened a criminal investigation against him last year at the request of Green Valley Ranch, which alleged he had failed to pay $1.2 million in gambling markers taken out in October and November of 2007, Zadrowski said. The case, however, was dropped in September after the Henderson casino allowed Watanabe to pay back $790,000 as part of a settlement.
The Bellagio also had asked the district attorney to open a criminal case last year against Watanabe, stemming from a $1.25 million gambling debt, but the charges were dropped in July following an undisclosed settlement, Zadrowski said.
The Rio and Caesars Palace case also could be dropped if Watanabe pays the full amount, nearly $16.2 million, Zadrowski said.
The Watanabe prosecution tops the case of former Fry’s Electronics Vice President Ausaf Umar Siddiqui in terms of a dollar amount allegedly owed to casinos. The bad check unit, Zadrowski said, pursued a criminal case against Siddiqui over gambling debts totaling $12.2 million. Siddiqui was indicted last month on federal wire fraud and money laundering charges in what authorities allege was an elaborate scheme to obtain $65.6 million in kickbacks from Fry’s vendors. Money from the scheme allegedly was used to pay off some of Siddiqui’s gambling debts here.
Jeff German is the Sun’s senior investigative reporter.
Discussion: 44 comments so far…
Post a comment
- Most Read
- Discussed
- Most E-mailed
- Binion’s to close all 365 rooms, lay off 100 workers
- Ex-NBA star to pay $12,835 monthly in gambling debt case
- Report: 70 percent of homeowners underwater
- Scuffle in pub parking lot leads to attorney’s arrest
- Rebels enter hoops rankings at No. 24
- The ins and outs of CityCenter traffic
- Palin craze puzzling, given ’08 disaster
- Harrah’s moves ahead with Planet Hollywood deal
- Man arrested for DUI after crashing into high school’s wall
- MGM Mirage begins lifting veil on CityCenter today
Blogs
The Kats Report
Dissimilar landmarks -- Binion's and CityCenter -- reflect today's Las Vegas (2 Comments)
High School Sports Scene
Prep Football: State Championship
Elsewhere
UFC debut in Boston likely July or August (1 Comment)
The Kats Report
Planet Hollywood's Thomas McCartney headed for Tropicana (14 Comments)
Elsewhere
LV woman robs Kentucky strip club, police say (5 Comments)
Las Vegas Sands' Hong Kong IPO flops (3 Comments)
The Kats Report
Monday List: Top 13 Moments and Observations From Thanksgiving Weekend (4 Comments)
Calendar »
- 2 Wed
- 3 Thu
- 4 Fri
- 5 Sat
- 6 Sun
-
Nic Faniciulli at Godskitchen
Body English | 10:30 p.m. to 11:59 p.m.
-
Mischieve Wednesdays at T&T
Tacos and Tequila
-
Ben Sherman gift bag giveaways at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Robbinhood?
Another example of casinos taking full advantage of folks with full-fledged gambling addiction.
How sad that you can come to town, spend MILLIONS OF DOLLARS on nothing and people will salute you, cater to you, satisfy your every whim, maybe even give you a Rolls Royce or a Bently or a free meal to make you feel a little better about being mentally ill. Or, as often happens, you spend SOMEONE ELSES life's savings, or your employer's cash, or your family money, or your
(John Daly) golf-tournament winnings, etc...
And they take checks.
Sin City, baby!
If you do not know that Vegas is built on the biggest con (gambling) then you need to wake and smell the do-do.
Add on the other cons, prostution, strip clubs, dancing clubs, overpriced food and overpriced retail shops then we have to be the biggest con city in the whole world.
This city has its arms held wide open to remove cash from the fools that willingly come to have a good time in Sin City.
Maybe he can just claim that it was a "sloppy, inadvertent error", sort of like all the tax cheats and lobbyists that the Communist Kenyan Commander in Chief has nominated for his Cabinet for, you know, "the most transparent and ethical" administration ever.
HA!
"Communist Kenyan Commander in Chief"...
How clever of NAR to come up with such a moniker
for our new President of the United States.
You must be very patriotic! And a centrist, no doubt! A genuine consensus builder, I say!
And so pleasant? Nay, Nar, a CHARMER, you!
"The taxpayers have benefitted?" No. Taxpayers like Sheldon Adelson and Steve Wynn, maybe, but until our gutless legislators drastically raise the gaming tax, we're not seeing any benefit at all from this moron's wrongdoing.
Wow, do you people really live in Las Vegas?
This is the city of entertainment, whether that's gambling, sex, shopping or anything else. The dude was obviously chasing his losses and chose to write those checks, and chose to not honor them. He probably does have a gambling problem but the casinos responsibility is to talk to him about it and as long as he chooses not to exclude himself they aren't obligated to do so. They could and probably have 86'd him for bouncing checks now, but it's not their job to be his daddy.
If you don't like how this city is run and what makes this city what it is; which a lot of us love then maybe you should move to utopia where everything is vanilla and cream, money grows on trees and you neighbors bake you a pie every day...
Las Vegas is 103 years a hustling, flair, excitement, getting away, adult indulgences, and spoiling. None of this is free and those who want the "pure" (denial of reality) life shouldn't be here.
And for the tax comment, we haven't gotten any of the 6.75% tax on his "loss". $14,700,000 * 6.75% = $992,250
That's almost a million dollars the state is out...
"Communist Kenyan Commander in Chief"...
How clever of NAR to come up with such a moniker
for our new President of the United States."
Speak for yourself.
B. Hussein Oding-I mean, Obama-isn't MY President, and for many of the over 50 million Americans that didn't drink the messiah koolaid, he never will be.
Basically, I plan on demonstrating the same level of loyalty and respect to this spineless marxist, that certain people showed to George Bush, and then some.
The fun has only just begun.
"messiah koolaid"
How hilarious of you to post a demonstration of your very assertion about others. Funny stuff. Keep up the good work.
narcissssa;
Awwww, aren't you cute!
And so mature for your age!
Is this for extra credit?
You go, girl!
I bet his father is turning in his grave how proud he must be of his son.
Shoulda listened to Ice Cube dog... You better check yo self before you wreck yo self.
Haha, no, what's funny is watching the messiah's administration start to implode after only two weeks on the job!
Backs off his "Buy American" stance after less than 24 hours, pisses off India, refers to an Iranian weapons launch as "unhelpful" (!!), and hires a tax cheat to head Treasury.
OMG, this IS hilarious!
See, when a man runs his life primarily motivated by wanting everyone to "like" him, he only winds up with no one respecting him.
What a case in point.
"Haha, no, what's funny is watching the messiah's administration start to implode after only two weeks on the job!"
No, what's funny is the way you keep calling him a messiah. With those expectations, he is bound to fail no matter what he does.
Narcissa,
When you grow up, (Jr. High is such a drag, isn't it?) you'll come to understand that name calling and putting people down doesn't make you popular. Just annoying.
""No one saw him coming, and Christians believe God comes at us from strange angles and places we don't expect, like Jesus being born in a manger."
--Lawrence Carter
"Many even see in Obama a messiah-like figure, a great soul, and some affectionately call him Mahatma Obama."
-- Dinesh Sharma
"We just like to say his name. We are considering taking it as a mantra."
-- Chicago] Sun-Times
"A Lightworker -- An Attuned Being with Powerful Luminosity and High-Vibration Integrity who will actually help usher in a New Way of Being"
-- Mark Morford
"What Barack Obama has accomplished is the single most extraordinary event that has occurred in the 232 years of the nation's political history"
-- Jesse Jackson, Jr.
"Does it not feel as if some special hand is guiding Obama on his journey, I mean, as he has said, the utter improbability of it all?"
-- Daily Kos
"He communicates God-like energy..."
-- Steve Davis (Charleston, SC)
"Not just an ordinary human being but indeed an Advanced Soul"
-- Commentator @ Chicago Sun Times
And you wonder why people make fun of Dear Leader and his KoolAid drinkers?
Here are some more gems by the collective geniuses supporting the great messiah:
"I'll do whatever he says to do. I'll collect paper cups off the ground to make his pathway clear."
-- Halle Berry
"A quantum leap in American consciousness"
-- Deepak Chopra
"He is not operating on the same plane as ordinary politicians. . . . the agent of transformation in an age of revolution, as a figure uniquely qualified to open the door to the 21st century."
-- Gary Hart
"Barack Obama is our collective representation of our purest hopes, our highest visions and our deepest knowings . . . He's our product out of the all-knowing quantum field of intelligence."
-- Eve Konstantine
"[Obama is ] creative imagination which coupled with brilliance equals wisdom . . . [He is] the man for this time."
-- Toni Morrison
"Obama's finest speeches do not excite. They do not inform. They don't even really inspire. They elevate. . . . He is not the Word made flesh, but the triumph of word over flesh . . . Obama is, at his best, able to call us back to our highest selves."
-- Ezra Klein
"Obama has the capacity to summon heroic forces from the spiritual depths of ordinary citizens and to unleash therefrom a symphonic chorus of unique creative acts whose common purpose is to tame the soul and alleviate the great challenges facing mankind."
-- Gerald Campbell
"We're here to evolve to a higher plane . . . he is an evolved leader . . . [he] has an ear for eloquence and a Tongue dipped in the Unvarnished Truth."
-- Oprah Winfrey
"I would characterize the Senate race as being a race where Obama was, let's say, blessed and highly favored. That's not routine. There's something else going on. I think that Obama, his election to the Senate, was divinely ordered. . . . I know that that was God's plan."
-- Bill Rush
******************
Ummm, yeah, excuse me, but I am NOT the one who by ANY STRETCH had ANY expectations whatsoever about the Great Telepromprompter Reader, except that he would manifest his Saul Alinksy Marxist philosophy and hostility towards the military and law enforcement, as he told us he would while he was campaigning.
THOSE quotes above are by OBAMA SUPPORTERS, also known as KOOLAID DRINKERS, who in addition to having zero ability for critical analysis, actually DO regard this clown as a messiah that will take care of their gas bill and the mortgages that they never should have had in the first place-but were able to snare, thanks to the brilliant Community Reinvestment Act.
"This was the moment when the rise of the oceans began to slow and our planet began to heal."
-- Barack Obama
And you wonder why people make fun of him and his supporters by calling him the messiah?
Bwaaahaha!
"Narcissa,
When you grow up, (Jr. High is such a drag, isn't it?) you'll come to understand that name calling and putting people down doesn't make you popular. Just annoying."
Oh, really?
I'm SURE that's what you told the posters at the Daily Kos and Gawker ALL THE TIME, when they wished Cheney would die of a heart attack, said despicable things about Nancy Reagan, wished death for George Bush in all sorts of ways, and promoted t-shirts that called Sarah Palin a +unt.
Oh, but wait a minute! THOSE people were just being patriotic by expressing "dissent" and "advocacy for social justice" in creative and artistic ways!!
Right?
Yeah, I thought so.
Don't like that not everyone in America and throughout the world is kissing your messiah's ass?
Get used to it-this is just the beginning for those of us who still value liberty, private property, and the founding principles of limited government upon which this country was founded.
Nar, you are in a snit, dear! Maybe you should go see the school nurse. Theys sometimes can give you a little something to calm you down.
Pelosi say that 500 million Americans lose their job each month.
Wow......every single one of us, including children, get hired and fired each month.
That explains a lot!!!!!
Hey Narc, I usually dont comment on others rants but....How bitter can one person be? Your rants have clearly shown that you have many untold issues other than our current president. Seek help, seek it quickly!
Narcissa
There is medication for you :)
"And you wonder why people make fun of Dear Leader and his KoolAid drinkers?"
I do not wonder at all. It makes perfect sense that those who just got trounced by him in the election would be bitter about it. Like you clearly are.
Ultimately, it doesn't matter and your bitterness doesn't matter. He'll do what he can do and we will all see what that is. People like you, however, have already called the game two weeks into the four years. I'm sorry, but I think that is over the top ridiculous.
Hey, I was just responding to someone's comment that I was somehow being over the top by calling the great teleprompter reader, the messiah.
As you can see from the quotes I posted from his supporters (but which you obviously refuse to acknowledge because they are so mortifying), Obama is, in fact, regarded as a messiah not only by himself, but by so many of his supporters (and laughed at by everyone else.)
But go right ahead with your dopey remarks about me; I'm sure that will make the stimulus bill that your hero is supporting less damaging to the economy, the Iranians all the more willing to back down from their nuclear ambitions, and Dear Leader's past two weeks in office less of disaster than they already have been.
haha!
Maybe I'm missing something here, but what the heck does Barack Obama have to do with some dude stiffing Caesars for $14.7 million?
Narcissa, good stuff, LMAO
They (libs) have no recollection of what Pres. Bush went through after he won (stole) the election in 2000.
They (libs) all point out that after 9-1-1 Bush had astronomical approval ratings, what they don't tell you is that after the bombs started falling on afghanistan his approval ratings went back to pre-9-1-1. Because after all, how could a civilized society attack and innocent country.
Talk about blah-blah-blah.
Obama-mama owes too many favors from being elected to govern appropriately.
"dopey remarks" Like messiah?
"haha!" Are you three?
This guys gives tons of cash to Democratic Party and candidates.
Democrats are deadbeats.
They do not pay their taxes.
They do not pay their gambling debts.
Where does the article say that? And are you suggesting that ONLY Democrats are deadbeats who don't pay their taxes? 'Cause I'm pretty sure there's more than a few Republicans who've pulled that stunt.
But let me rephrase -- why does every last discussion on this website seem to devolve into a political melee? Can't we reserve that for the stories that are, y'know, directly related to political issues?
It is a truthful statement.
This guy is a major cash contributor to Democrats.
This guy failed to pay his gambling debts.
There has been 4 major Democratic leaders that had problems paying their taxes. No wonder they are for higher taxes....they don't pay them.
Democrats are deadbeats.
Just asking...How was he able to write so many bad checks?
Casinos have every angle figured out, so at what point do they say, "Hey, this guy needs help" Is it $1M, $2M, $5M?
Casinos are no different than the cigarette companies.
Narcissa, you & Nance, er.. hold on here...
obama hater, check
kool-aid references check
messiah this, messianic that, blah blah blah,
taxes, taxes, loves Bush, mentions Iran, hates libs,
narcissistic tendancies, NANCISSA! JIM, is it the inner YOU?
Nobody wants to defend the deadbeat Democrats who fail to pay their gambling debts and their taxes.
What is the world coming to?
Dearest Nance,
Please review the list of Republicans/Tax cheats/Thugs (please note list not nearly complete).
James Ortenzio
Italia Federici
Jack Abramoff
Peter Ellef
Gerald J. Luongo
Matthew V. Scannapieco
Robert Stears
Charles and Sam Wyly
Thomas Noe
Bob Nye
Duke Cunningham
Richard Renzi
Christopher Newton
Paul Coughlin
Claude Allen
Michael Tristano
Peter Ellef
John Rowland
Philip H. Bloom
Lance Malone
Rayfield James
Guy Velella
Anthony J. Palughi
James Treffinger
Martin G. Barnes
W.D. Childers
Thomas G. Manuel
Alan Binder
Richard R. Goyette
Pat Davison
John Merla
Michael Hooks, Sr
Tom Anderson
Robert T. Schofield
...and so on, and so on...
My point is not that any political party is less/more corrupt than the other, but rather that your sweeping generalizations are just wrong. Grow up.
Looks like some people on here need to get a job... or get laid... lighten up, kids!!!
It's amazing to me that this guy got away with this for as long as he has. Maybe it's time for a ride in the desert with Gweedo. (totally kidding)
matts7052, I am shocked! SHOCKED! that you would suggest that anyone in the Republican party would ever EVER! cheat the system in any way shape or form. You should be forced to watch a Carrot Top performance.
BTW, I have an extremely rich friend who has cheated (i.e. NOT PAID) taxes for much of his life. Can you guess his political persuasion? Let's just say he didn't vote for the current president, n'kay?
Yes, both sides cheat. But only one side denies being gay.
Ha? What did he say???
I reviewed the list.
None of those names appeared on the Tax Cheats appointee list by the O-bama adminstration.
O-bama is doing a great job so far.
I wonder if all the casinos allow about 30 days to clear a marker? Rio and Caesars appear to have been Oct-Nov and Nov-Dec. I guess if the client is a big enough gambler they don't ask to clear their markers before they leave or within 30 days before allowing more credit. With casino income where it is they might want to change something.
I wonder how many Valentine's Day Heart Erasers he will offer Uncle Sam for a billion stimulus dollars?
and life goes on.....
Everyone who gambles is a philanthropist in Las Vegas.
This guy seems to have found a winning formula - get all the money he wants via bad check and then pay back only a portion based on a settlement amount - it's no wonder he keeps repeating and repeating - not until he's prosecuted for the FULL amount will he ever stop, I'm sure - why should he? The casino's are fools for falling into his trap - they are apparently just so happy to get 'some' of the money that they settle for less and on he goes to the next scam.