Both the ASB Bank and a sex worker allegedly paid millions of dollars stolen by the bank's former financial advisor Stephen Versalko are being tight-lipped about their High Court negotiations held today.
Versalko, 51, was jailed for six years in March after stealing $17.8 million from 30 wealthy ASB Bank customers after advising them to invest in non-existent high-return finance schemes.
He paid them back $4.6 million of their own money in "returns" on their investments, but then spent $4 million on properties and $3.35 million on two escorts.
ASB Bank is suing one of the sex workers, a 41-year-old woman, who has name suppression, in an attempt to get back about $2.55 million which Versalko reportedly paid her.
The bank and the prostitute entered a conference room at the High Court in Auckland this morning for negotiations before Associate Judge Antony Christiansen behind doors closed to the public.
Negotiations ended for the day about 5.30pm, with neither party willing to say how negotiations were proceeding, or even if an agreement had been reached.
ASB Bank was reportedly not seeking compensation from a second sex worker who reportedly received just under $800,000 from Versalko.
Versalko last month did not oppose ASB Bank's application for an order for him to repay more than $14 million.
NZPA