ASB fraudster told to repay millions

Stephen Versalko. Photo / Bradley Ambrose

An ASB Bank adviser, who stole millions of dollars from his employer, has been ordered to pay back most of his ill-gotten gains.

Stephen Versalko stole $17.8 million from 30 clients using the money to buy properties, wine, overseas trips and entertain prostitutes.

The 51-year-old was jailed for six years in March and told he would serve a minimum of four years before he could apply for parole.

The court ordered Versalko to repay $14,032,686.50, costs of $12,800 and disbursements of $1900.

ASB later refused to comment on the hearing.

The bank is reportedly also taking legal action against prostitutes to recover millions of dollars Versalko lavished on them.

- NZPA