The Banker, The Escorts and The $18 Million tells the story of Stephen Versalko – the ASB fraudster who stole almost $18m of his clients’ money to lead an audacious double life of sex, lies and betrayal, including spending around $3.4m on prostitutes.

The Banker, The Escorts and The $18 Million - Wednesday Jun 29, 8.30pm and On Demand.

In August, 2009, an uneasy ASB client made a phone call that would ultimately unravel one of the country’s most scandalous frauds of all time – involving a double life of sex workers, overseas travel, deception, and nearly $18m in stolen funds.

Inside New Zealand’s compelling new one-hour docudrama, The Banker, The Escorts and The $18 Million, produced by the Emmy® Award winning KHF Media, tells the story of New Zealand’s biggest ever single employee fraudster, Stephen Versalko – the man who defrauded a high profile bank and his clients for almost a decade.

Stephen Gerard Versalko was sentenced in 2010 to six years imprisonment, with a minimum non-parole period of four years, after siphoning $17,763,110.19 off 26 sets of wealthy clients from the ASB Bank where he worked as an investment advisor.

Outside of buying property ($3.9m), his biggest spend was on sex – including $3.34m on just two Auckland prostitutes with whom he had long-term relationships. One received $2.5m and later reached a confidential settlement with the ASB, which pursued her in court to get the money back. The other received $791,181 – though both women also say they received large cash payments. Additional money was also spent at various escort agencies around the city.

Featuring candid interviews with key Serious Fraud Office investigators, former clients and the first ever and exclusive interview with the $791,181 prostitute who Versalko later accused of blackmailing him, the Versalko story is laid bare in a stunning docudrama. The programme also features outstanding performances by some well-known faces, and a haunting music score by composer Rhian Sheehan.

The Banker, The Escorts and The $18 Million is a cautionary tale that explores how one person could deceive those who loved and trusted him for so long. It asks how, with today’s rigorous checks and balances, could an employee steal such a large figure – and could it happen again? It offers guidance from experts about how to avoid the same thing happening to you.

The Banker, The Escorts and The $18 Million is a gripping story of theft, deception, sex and mistrust on a monumental scale. It is a must-see for all New Zealanders.

Inside New Zealand On Demand