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Comedian Admits|He Owes $1 Million

LAS VEGAS (CN) - Emmy Award-winning writer and comedian John Padon and his business partner owe $1.06 million for stiffing an investor in their Las Vegas comedy club, Padon acknowledged Tuesday in a confession of judgment.

Dr. Michael Katin filed notarized confessions of judgment signed by Padon and his business partner Kevin Kearney as managers of Sin City Comedy, in Clark County District Court.

Padon and Kearney acknowledge they owe Katin for his $974,500 investment in Sin City Comedy, a comedy club in the Miracle Mile Shops at the Planet Hollywood Casino in Las Vegas.

The $1.06 million includes 3 percent annual interest and attorney's fees.

Katin first invested in the comedy club in 2010 with a $218,000 loan, and the amount increased to $974,500 by October 2012, according to an amended promissory note attached as an exhibit, and signed by Padon and Kearney.

Sin City Comedy twice was named the best comedy club in Las Vegas. Padon, who won an Emmy as a write for "Wonder Years" and also wrote for "Home Improvement," is a nationally touring comedian with a long history of performing shows in Las Vegas.

Kearney formerly was national booking director for Catch A Rising Star comedy clubs. He told the Las Vegas Sun he allowed then-unknown comedian Dan Whitney to try out his Larry the Cable Guy routine at the MGM Grand in Las Vegas. Kearney is also a pianist, who once backed the Unknown Comic, who became famous for his routine on "The Gong Show."

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