SCANDALS: Sir Hugh's Addiction

He could frequently be seen in the casinos of London and Monte Carlo, always at the roulette wheel and usually on a massive losing streak. At one time. Sir Hugh Fraser, at 40 one of Britain's more powerful businessmen, played back-to-back tables at Ladbroke's and lost the equivalent of half a million dollars in a single evening. To cover his losses, Fraser has been forced into selling an estimated $2.4 million worth of stock in Scottish & Universal Investments Ltd., an associate company of the House of Fraser Ltd., which owns Harrods...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!