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Exec Gets Eight Years for $1m Theft

8 September 2004

AUSTRALIA -- As reported by the Herald Sun: "A former senior executive with power company TXU was jailed today for eight years for stealing more than $1 million to satisfy a crippling gambling obsession.

"Melbourne County Court judge Tony Duckett ordered 34-year-old Wayne John Seiler to serve a minimum term of four years.

"Seiler, formerly of McMahons Point, Sydney, stole $1.04 million from the electricity and gas supplier while working as a financial manager last year, the court heard.

"The court heard earlier that Seiler had lost about $800,000 at Melbourne's Crown Casino and more than $200,000 on horse racing and internet gambling..."

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