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A New Zealand landowner who outlayed millions of stolen dollars on prostitutes was locked up for 6 years. Stephen Versalko, 51, who worked for the ASB Bank, stole $18 million (7 million).
Two prostitutes perceived $3.4 million from him and most of the rest went on booze and property, Auckland District Court was told; $1.2 million went to one of the prostitutes, who was blackmailing him.
Patrick McCann, the prosecutor, called Versalkos rascal a classical Ponzi, in that investors embrace seductiveness from their own collateral or from newer investors.
Versalko had told investigators that he felt he was Mr Invincible. His clients were especially aged women vital outward the country.
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