The High Court has ordered an ASB Bank investment advisor to pay back the millions he stole.
Stephen Versalko, 52, was jailed for six years on three fraud charges after stealing $17.8 million – which he spent on prostitutes and high living.
Kyra Vince, representing the ASB, appeared before Justice Miller at the High Court in Auckland this morning seeking a refund from Versalkso.
Ms Vince told the court the bank is seeking $14,032,686.50, plus costs of $12,800 and disbursements of $1900.
Judgement was awarded by default as Versalko was not represented in court.
Ms Vince told the court he was not opposing the bank’s application.
The hearing lasted less than a minute.
Despite judgement being awarded in the bank’s favour, ASB is still more than $3 million out of pocket.
A further $3.4 million is being saught by ASB from a number of prostitutes. It is understood Versalko paid his favoured woman a total of $2.4 million.
Of the money he stole, $4.75 million was held in trusts, $3.2 million spent on a Remuera mansion and $1.8 million on a beach house in the Coromandel.
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