German Banker Accused of Stealing Millions to Fund Gambling Habit

German Banker Accused of Stealing Millions to Fund Gambling Habit

A German banker is component of a new trend of high-dollar gambling thefts

It’s nothing not used to hear about individuals stealing money in order to spend it on gambling. But, it’s rare that the theft ever gets this big. A 39-year-old German bank worker has been accused of stealing over €8 million ($10.6 million) from customers, which he then spent at casinos on the program of many years.

Stole Undetected for Years from Customers

According towards the fees, the person works in Buxtehude, a Northern Germany town that is clearly a suburb of Hamburg. No fewer than 156 times over the course of more than three years spanning between 2007 and 2010 the man stole money from customers’ accounts. He also directly took cash which had been provided to him by customers to invest. According to prosecutors speaking in Stade District Court, the person even faked customer signatures on several occasions in an effort to get access to their money.

The amounts stolen varied greatly from client to client. At some times, he took only a few hundred euros; in the most dramatic cases, several hundred thousand euros had been taken away from accounts simultaneously.

In total, €8.4 million ($11.1 million) was applied for of client accounts on the years. That cash was then largely spent at a casino that is local Hamburg.

According to prosecutors, the unnamed man had already paid back €4.5 million ($6 million), though t Continue reading