The Brian Molony Story – A Real Gambling Addict

In today’s article, you will meet a real genius gambling addict. Mr. Molony has performed an act that not many people in history have done. It’s another matter that he got caught at the end, but until then, he really lived the high life. You can find out everything about what exactly this means below. We have written about scammers before, but none like him. Let’s check out the Brian Molony story!

How Did it All Start?

Brian Molony was born in Toronto, coming from a family of doctors. He was a clever but eccentric boy who stood out as a peculiar but intelligent child. Eventually, Molony graduated from the University of Western Ontario with a degree in journalism. The Brian Molony story started when he made his first bet at the age of 12 when his father took him to a horse race. He placed two dollars on one of the horses and won. It triggered something, and from then on, he became more and more open to betting and became more and more addicted to gambling.

Later, he did not work in his field of profession but at the Canadian Imperial Bank of Commerce, CIBC, and began to study profusely. He held various positions at the company and learned a lot in order to get higher and higher on the career ladder. As a result of his field of work, he traveled a lot and learned how to use all the systems, how they function, and what their possible weaknesses are. Luckily, we do not have to travel to gamble anymore. Check out the available casino games at Everygame Casino!

His bosses also saw the potential in him, so after a while, he made good money. Molony took home around 10,000 dollars a year, which at that time was a lot. However, the bet made at the age of twelve triggered a series of thoughts and feelings. From then on, Brian spent all his free time in the horse races, even stealing from his parents and using it to support his passion. Of course, his bosses didn’t know about that.

The Beginning of the Scams

He was a frequent guest at the horse races, but he got himself into bigger and bigger debts. So, he came up with a plan to pay it all back. He took out fictitious loans, and he, as an authorized representative, received this money.

He forged the signatures, and no one noticed. In any case, we are talking about the country’s second-largest bank, with more than a thousand bank branches, and it took quite some time for a mistake to be discovered. If they discover it at all.

Mr. Molony did what he did very smartly. He created so many fictitious borrowers that he paid off one loan with another, so the bank was not even suspicious. Molony later admitted in an interview that he was never interested in stealing and wanted to pay the money back. He stole so he could play. So when he won, he could pay the debts. It’s up to you to believe it or not. As it usually happens in a case like this, his appetite grew bigger and bigger. Brian switched from horse races to casinos. 

According to online casino sites in Spain, his favorites were craps and baccarat, and his favorite place was the Caesars Boardwalk Regency Hotel in Atlantic City. You can find these games at Everygame Casino! At first, he only took a few thousand dollars with him, but later it grew to tens or even hundreds of thousands of dollars. The bigger the amount he played, the bigger the adrenaline rush.

Of course, such a well-paying guest is also appreciated by the casinos, so they spoiled the Canadian guy, who later was only called Mr. M. Every single time, they prepared his favorite food, paid for his hotel room, and even brought him to and from the casino with the hotel’s own plane.

The Brian Molony story – The fall

As moving cash became increasingly problematic, Molony set up a bank account in the casino’s name. He transferred the amount he wanted to play there so he didn’t have to stress about it during trips. Brian Molony’s last game happened on April 26, 1982.

At that time, he gambled away 1.4 million dollars, betting 250,000 on a roll of the dice. You can imagine the level of his addiction by then. The plane took him back to Toronto the next morning, and the police immediately arrested him.

It turned out that they had been watching him for more than five months. They tracked the money transfers, so the police finally had evidence of the fraud. Brian Molony was arrested, confessed, and got a 2,5 years prison sentence. He gambled away more than 10 million of CIBC’s money! The casino was also sued, which ended with them having to close for a day. Since it would have been a busy day, they had to book a loss of about 700-800 thousand dollars.

By the way, Caesars and CIBC had an out-of-court settlement, the details of which were never made public. Despite the penalty and compensation, the casino did well. How did the Brian Molony story end? Ever since the incident, Brian got married and had a child.

To this day, he is repaying the money he stole, but he is on the right track now. He recovered from his addiction and said he wouldn’t even think about playing in the future. He was not the first and certainly not the last who used one of the biggest casino cheating methods!

The Ending of the Brian Molony Story

They published his autobiography, Stung – The Incredible Obsession of Brian Molony, in 1987. According to online casino sites in Spain, the book immediately topped the charts and was made into a movie in 2003 starring Philip Seymour Hoffman.

He is another fine example of the fact that a fraudster will be caught sooner or later. Brian Molony’s incredible greed eventually landed him in jail, stigmatized, and even several years of work won’t be enough to pay back all the money he stole. Regardless, it is gratifying that he is on the right path, and hopefully, he will stay there. Sometimes, gambling is not a game or a joke. If problems arise, professional help is needed.

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