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Tasmanian Embezzler Given Prison Term

TASMANIA – As reported by the Australian: "A former Tasmanian financial adviser who gambled away millions of dollars of his clients' hard-earned cash will spend at least four years in jail.

"Like many others who committed such crimes, Mervyn William Mitchell had deluded himself his next gamble would result in the win which would have allowed him to repay the money, the Tasmanian Supreme Court was told today.

"In sentencing Mitchell to seven years' jail with four-year non-parole period, Justice Peter Underwood said the 49-year-old had dishonestly obtained the 'staggering sum' of $4,571,813 (US$3.23 million) over an eight period from July 1995 to May 2003.

"…Mitchell acquired the funds by various means including forging investors' signatures or simply stealing cheques…"

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