ASB Bank has been awarded more than $14 million owed to it by convicted fraudster Stephen Versalko as it tries to recover more of the stolen money.In March the former investment adviser for the bank was sentenced to six years in jail for ripping off 26 we
ASB Bank has been awarded more than $14 million owed to it by convicted fraudster Stephen Versalko as it tries to recover more of the stolen money.
In March the former investment adviser for the bank was sentenced to six years in jail for ripping off 26 wealthy clients for a total of $17.7 million dollars.
ASB Bank is now trying to get back as much of the money as it can.
By the time Mr Versalko pleaded guilty to the fraud charges ASB had already seized the proceeds of the sale of his Remuera house and his holiday home on the Coromandel, which had both been bought using money he obtained from the bank's clients.
And today in the High Court at Auckland Justice Forrest Miller issued a judgment against Mr Versalko for $14,032,686.50, the remaining amount owed to ASB.
The bank is also suing a prostitute on whom Mr Versalko spent more than $2 million,
