Dresden: gambling addicted defrauds friends of 447,000 Euro

A few days ago the district court of Dresden condemned a young man from Dresden to two years imprisonment. The convict had defrauded several persons from his circle of friends and acquaintances of nearly half a million Euro. He lost the money he attained whilst gambling.

Just a few days ago we reported about a case from Australia, in which a woman defrauded her employer of 940,000 AUD to be able to finance her gambling addiction. In another case which took place in the region of Sachsen, a 27-year-old from Dresden defrauded his partner and also several friends of a total amount of 447,000 Euro. The fraudster then lost the money in gambling. 

Promised lucrative precious metal facility

The young man from Dresden had defrauded the persons close to him of a large amount of money over a four-year-period. According to the newspaper “Sächsischen Zeitung“, Nico S. had first borrowed money from his girlfriend. When the woman requested her money back, the fraudster had explained that he had invested the money in precious metal and he was soon expecting a high rate of return.

Since the woman at first believed the story, Nico S. then looked for new victims in his circle of acquaintances. By time he had then received amounts ranging between 3,000 Euro and 310,000 Euro from these persons. Through the fraudulent activities of the young man he had then accumulated debts amounting to 447,000 Euro. Nico S. had also promised these persons that he will invest the money in precious metal and that he expected a rate of return of up to 12 %. The naive victims believed their acquaintance and looked forward to receive the distribution of profits. However at this point nearly all the money had been lost.

27-year-old gambled away 447,000 Euro in the Casino

Instead of investing the money in precious metal as he had promised, Nico S. visited a casino. He also gambled the other people’s money in several casinos and lost money there too. The man then managed to gamble away all the money borrowed from his acquaintances. The perpetrator is an unemployed secondary school leaver without any qualifications.

A few days ago the man had to appear in front of the district court of Dresden and answer for his fraudulent actions. A psychiatric consultant presented a report to state that he not only has a narcissistic personality disorder, but also suffers from a pathological gambling behaviour. Therefore his deeds were related to his gambling addiction.

Condemned to several years of imprisonment

A few days ago, the Chairman of the Dresden Court of Assessors condemned the 27-year-old to a prison sentence of two years and eight months for his deeds. Due to the large amount of debts involved he was not given a suspended sentence and the convict has to go to prison. Among other things, in September we had reported about a female casino employee who had stolen several million Euro from VIP-customers and she has still not been convicted for this.

Conclusion

A 27-year-old has managed to convince several persons from his circle of friends and acquaintances so that they were then ready to trust him with nearly half a million Euro. Instead of investing the money in lucrative precious metal as he had promised, the man then gambled this money in the casino, gambling halls and online casino. It is of course questionable why the acquaintances were so naive to trust the man who has no relevant qualifications in finance with so much money. We can only hope that the man will use the time in prison to think about his actions and to control his gambling addictions in the best way possible.

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