CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links

Gaming News

 

Australian Banker Jailed After Stealing Millions for Online Gambling

29 October 2003

SYDNEY – As reported by the Agence France Presse: ``An Australian bank manager who stole 19 million dollars (13.11 million US) to feed his Internet gambling addiction was sentenced to five years jail for what a judge described as an 'absolutely breathtaking' fraud.

``Kim David Faithfull managed to siphon the money from his small-town branch of the Commonwealth Bank in Western Australia over five years without detection until he turned himself in during a fit of suicidal depression.

``He had wagered up to 500,000 dollars a week and lost a total of 19 million dollars.

``Handing down his sentence, West Australian judge Kevin Hammond said it was 'curious' the Commonwealth Bank never noticed discrepancies in the accounts of Faithfull's branch at Karratha, on the state's sparsely populated north coast.

``The judge also asked why IASBet.com, Faithfull's online bookmaker, continued to accept his bets even though it knew what he did for a living..."

< Gaming News