ASB Bank has apologised again to its customers after one of its former staff stole nearly $18 million, which he splurged on property and prostitutes.
Stephen Gerard Versalko was sentenced yesterday to six years in prison after pleading guilty and being convinced on to three charges brought by Serious Fraud Office.
The Auckland District Court heard how Versalko spent $3.4 million on two prostitutes, a $3.2 million home in exclusive Auckland suburb Remuera and a $1.8 million beach-front property in the Coromandel.
7:45AM Wednesday 23 May 2012
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Business
- Auckland's Sebel, Quay West join Accor
- Facebook falls further; now $US17b below listing value
- Wall Street heads for two-day gain
- Market close: Shares up from 5-week low - Telecom, Chorus, Fletcher rise
- NZ dollar holds gains, shrugs off Fonterra payout downgrade
- Pharmacybrands profit jumps on Radius acquisition
- Re-flagging foreign fishing vessels threat to NZ quota value
- Status quo for Jetstar here despite major Qantas revamp
- Canterbury outpaces Auckland growth in March year
- FMA wants feedback on non-standard earnings measures
Property
- Augusta in red after $2m termination fee
- Paid content Pero selling Fendalton home for bigger one
- Paid content Strategic directors nab Auckland heritage CBD building
- NBR ONLINE Top Properties
- Paid content GHD's $25m move won't ease Auckland office woes
- Luxury Queenstown home sells for $7m
- Paid content Auckland mustn't make same mistakes - top realtor
- Paid content Council red-tape slasher proud of her team's work
- Paid content Sell city assets to help rebuild - Christchurch chamber
- Paid content New stadium: an albatross or a stunning asset?
Banking and Finance
- Paid content MasterCard NZ boss sees us ahead in some mobile payment areas - but behind in others
- Paid content Super Fund has nearly $500m exposure to EU banks
- ASB trust stumps up for $35m waterfront theatre
- Banker 'Moose' Tyler to head super funds
- Kiwi hits five-month low as ECB halts bank loans
- ANZ Bank investing $A300m to expand China network
- Big bank home loan rate cuts continue
- Paid content ON THE MONEY: Markets will spin when Twist ends
- Paid content Conservative business customers getting ready for upturn - BNZ
- BNZ first-half cash earnings up 36% on wider margins
Technology
- Facebook falls further; now $US17b below listing value
- FYX mystery solved - Maxnet's new Australian owner speaks out
- Apple boss's half-billion pay package
- Budget 2012 gets its own iPhone, iPad, Android app
- Spotify all-you-can-eat music service launches in NZ
- Telecom first with Galaxy S III pricing, pre-orders
- Google NZ posts another loss - and makes another tiny NZ tax contribution
- Quickflix NZ releases movie streaming app for iPhone, iPad; makes Android promise
- More possible flak for Sky TV as watchdog releases barriers to broadband uptake report
- Finally, Zuckerberg puts on a suit (PHOTO!) - billionaire marries day after IPO
Law and Courts
- Deadly pork disease fears prompt import ruling appeal
- No love lost between fraudster and fraud accused
- Dotcom wants data returned, won't reveal passwords
- Paid content Capital’s oldest gym disputes $1m IRD claim
- Paid content Defamation a double-edge sword
- Former government advisor duped by fraudster Stevens
- Bridgecorp director Rob Roest gets six and a half years
- Paid content Defamation case exposes rifts between govt agencies
- Paid content Lawyer Barry Hart owes bank more than $30m
- Paid content Barry Hart's High Court fight over mortgagee sale
Ad/Media
- NZ On Air releases original proposal for documentary that morphed into reality show The GC
- Celebs join 'sexual preference' equality campaign
- Coffey mornings for Saturday breakfast
- OgilvyAction takes the biscuit
- Paid content Tawdry TV show turns on viewers and tops TV3 ratings
- Paid content Fur flies over taxpayer-funded 'sexploitation' of women on TV
- Watchdog clears Sky TV-TVNZ igloo joint venture - but opens ISP partnership investigation
- Paid content Advertisers 'turned off' by poor quality NZ Herald journalism
- PR not just for corporates, says PRINZ winner
- Sky strikes back
Politics
- NZ POLITICS DAILY: Shane Te Pou, unwanted baggage
- Paid content Extended Economic Zone resources: Protecting while exploiting?
- Budget 2012 gets its own iPhone, iPad, Android app
- NZ POLITICS DAILY: Too much debt, or not enough work to go around?
- 'Introspective' NZ has shades of Muldoon - MFAT adviser
- Paid content Auditor-general investigates govt department over quake rebuild contract
- Paid content Should the government sell the $20b Cullen fund? - NBR readers' verdict
- Carter supports council asset sales to cap rates
- ACC boss: more privacy breaches will happen
- Police paid more than teachers because life on the line - Parata