Sometimes gambling habits and addictions spiral out of control. And this is when people’s lives become affected, and problems begin. Even the best gamblers in the world will have off days, and these are when disaster strikes. Gambling addicts will often do whatever it takes to get money and fuel their addiction. It’s easy to forget that gambling is a very real addiction, and it can often be as bad as drug or alcohol addiction.
This is where the cautionary tale of Brian Molony unfolds. You may have heard of Brian Molony due to his infamous past which made international news in the 80s. But, if you haven’t then you can consider this a short bio. He is a Canadian former banker and self-confessed gambling addict.
He had a bright future ahead of him and got a job with the Canadian Imperial Bank of Commerce straight out of university. However, all this was to end when he was busted for embezzling over $10 million from the bank to feed his personal gambling addiction!
He was arrested in April of 1982, the day after he lost $1 million in an Atlantic City casino! He is thought to have served two and a half to six years in prison. Since his release Brian has curtailed his wild ways. He now works as a business consultant and is married with children.
A film based loosely on his story, and entitled Owning Mahowny, was released in 2003. Late actor Philip Seymour Hoffman played the character based on Molony. The movie received a lot of critical acclaim but was not a box office success.
Brian’s story is a cautionary one to many young up and comers who enter the world of finance. There is so much wealth at their fingertips that it’s easy to make compromises and mistakes. Before you know it, you’re Brian Molony!