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Former ASB adviser to plead guilty to $18m fraud

Wednesday 27th of January 2010

A sacked ASB investment banker has indicated that he will plead guilty to fraud charges of nearly $18 million which is the country's largest employee theft.

Stephen Gerard Versalko, 51, appeared in the Auckland District Court today facing three charges from the Serious Fraud Office after allegedly defrauding 30 wealthy bank clients over nine years of $17,763,110 as ASB senior investment...

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