Home
News
German Banker Steals €8 Million to Gamble

German Banker Steals €8 Million to Gamble

Added: August 14, 2013

It is hard to read and hear about how far people go when their gambling habits get a bit out of hand. Online gambling is an activity we thoroughly enjoy, promote, and recommend; however, we always advice that you should do so with restrain and always knowing how far your limits (mainly monetary) can go. New broke this week in Germany that a 39 year old local banker managed to get his hands on €8.4 million from the bank customers over three years. The reason? Gambling.

The man allegedly took all the money over the course of three years in order to support his insatiable gambling habit. When the bank found out about the fraudulent activity, the case was taken to court for prosecuting. The banker stole money from his clients 156 times, when his assigned job was to invest the money int lucrative stocks. All in all, he stole multiple times in variable amounts ranging from a couple hundred euros, to hundreds of thousands. He managed to carry on with his illegal fund management successfully from 2007 to 2010.

Further investigation into the case and the banker's personal spending data showed that most of the cash was gambled away at online gambling venues and at a casino in Hamburg. The chages being held against him are breach of trust, fraud and falsification of documents; his trial date is August 21st, 2013 and we will keep you updated on what prosecutors decide regarding this man's future.

Surprisingly, the man has managed to pay back €4.5 million of the money he took; however, the fact that he managed to pay some of it back will not influence the violations he incurred towards the bank he worked for and the customers he served.

How does an invester banker responsible of staggering amounts of money decide to steal from his customers so he can gamble? Honestly, we don't know. What we know is that this can, in fact, happen to a lot of people including you, me, and your mom. Hence, fellow gamblers, we recommend that you take a moment to ponder about why you gamble. This is supposed to be fun, entertaining, and not a reason for people to be concerned at court.

That is our humble opinion, we will keep you updated on any developments, as usual, and wish you good luck at the tables.