A Perth bank manager who appropriated an amount of almost AU$3.7 million from the branch he worked in and spent it on gambling, is to spend five and a half years in jail.
The 37-year-old Daniel Petkov stole the money from the Westpac branch at Belmont in the period from July 2016 to February 2018. The man, whose wrongdoings were finally revealed in February 2018, was suffering from an undiagnosed bipolar disorder at the time. He faced charges of stealing as a servant and the District Court heard that Petkov forged bank records and instructed the rest of the staff members of the bank’s branch, who were unaware of what was happening, to do the same in order to cover up his wrongdoings.
At a court hearing, it also became clear that the bank manager started his stealings with sums amounting to approximately AU$50,000. By the time his wrongdoings were revealed, he was taking sums of about AU$400,000.
Petkov pleaded guilty to charges. His legal representative, Tom Percy, explained that his client was not able to control his actions at the time of the offences due to the fact that he was suffering from a mental illness, an undiagnosed bipolar condition. Mr. Percy further shared that Petkov was now prescribed some medication and was receiving medical treatment, so he was now in remission.
According to Judge’s order, Petkov must repay the money. Still, the Judge explained that was very unlikely to happen. Petkov will have to stay behind bars for at least three and a half years before he is given the chance to ask to be released on parole.
Former Bank Manager Spent the Money on Gambling
As mentioned above, the man used the amount stolen to fund his gambling addiction, because of which he used to spend up to 16 hours on slot machines offered at Perth and Melbourne casinos, where Petkov was given the status of a high-roller.
According to Gabrielle Clarke, a state prosecutor, the crime of Daniel Petkov was “calculated and persistent” and had a negative effect not only on the bank but also on staff’s reputation in this particular branch. She further explained that the illegal appropriation was accepted by the state as a direct result of the mental illness from which the man suffered.
After the hearing, Judge John Prior accepted that the 37-year-old problem gambler was feeling true remorse for his wrongdoing. Furthermore, he accepted that the mental illness from which Petkov was suffering at the time of the stealings, played a significant role in his actions, as the appropriation seemed to have happened at the time when the man was in the so-called “maniac phase” of the disorder.
Still, the crime was quite serious according to Judge Prior, who said that there were also several other factors, such as the large amounts of money stolen, the attempts of Petkov to cover up what he was doing, as well as the fact that the rest of the staff at the bank branch were unaware of what was actually happening. In addition, the theft has been going on for a long time.
The other members of the staff were also investigated when the theft was uncovered. According to the Judge, they felt deceived and betrayed, because their reputation and honesty had been doubted in.
- Author
Daniel Williams
