Aussie onliner stole AUS$ 340000 to feed addiction

29.04.2008

The tragic consequences of gambling addiction were on display in an Adelaide, Australia law court this week when former financial adviser Kym Andrew Sellers (32) admitted liability and apologised to his victims and former employer.

ABC Online reports that the former financial adviser stole more than Aus$340 000 from clients by selling shares belonging to his customers at the Adelaide firm Taylor Collison. The money from the sales was used to fuel an online gambling addiction at unspecified websites, and the betting was often done from his office, continuing over a period of three years.

Sellers acknowledged in his statement that he deserved to go to jail.

The prosecutor said the total loss to the company ended up being almost Aus$500 000 because it had to buy back the shares and the price had risen.