Days of freedom for accused

Stephen Versalko allegedly defrauded the ASB Bank of $18 million. Photo / Bradley Ambrose

A former Remuera investment banker who lived the high life after allegedly stealing nearly $18 million from ASB Bank customers is enjoying what could be his last few days of freedom, soaking up the sun at Takapuna Beach near his $1.4m rented home.

Stephen Versalko, 51, is expected to admit three charges laid by the Serious Fraud Office of taking $17.763m from 30 wealthy bank clients over nine years, when he appears in the Auckland District Court on Tuesday. The theft is believed to be the largest employee theft in the country.

Versalko was photographed on Thursday strolling from his home to Takapuna Beach for a swim. The upmarket North Shore street is lined with multimillion-dollar mansions on the beach.

Versalko was released on bail after being arrested before Christmas following a three-month investigation by the SFO.

He was fired from his investment banker job with the ASB in August where he offered investment advice to customers in Auckland's wealthier areas.

Before he was fired, Versalko spent up large on the property market, buying a $1.7m home in Remuera in May last year, which has since been sold.

In August he paid $1.8m for a Whangapoua beachfront home in the Coromandel.

That property sold for $1.85m over Christmas. Versalko had previously holidayed with his wife Megan and their three children at another Whangapoua home which was sold before the second property was bought.