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Childhood

Brian Molony was born in Toronto, Canada, and was fascinated with gambling at an early age. By age ten, he was already visiting racetracks and even acted as a bookie for his schoolmates. Despite his early interest in gambling, Molony pursued higher education, graduating from the University of Western Ontario with a degree in journalism.

Career

Molony initially planned to become a financial writer but was recruited by CIBC after excelling in their aptitude test. He quickly increased, working in various departments, including savings, foreign exchange, and loan accounting. However, while climbing the corporate ladder, he was secretly embezzling money to fund his gambling habit.

Personal life

After pleading guilty in 1983, Molony served two and a half years in prison (though some sources claim six years). Upon release, he committed to restitution and began speaking publicly about his gambling addiction. Today, he is married with children and works as a business consultant.

Revenue

Molony’s embezzlement cost CIBC millions, and the bank sued Caesars for knowingly accepting stolen funds.

Interesting facts

  • Molony was flown to casinos on a private Learjet and given luxury hotel suites.
  • His story inspired Gary Stephen Ross's book No Limit: The Incredible Obsession of Brian Molony.
  • The film "Owning Mahowny" (2003), starring Philip Seymour Hoffman, is based on his life.

Legacy

Molony’s case remains one of the most infamous examples of gambling addiction leading to white-collar crime. His story is often cited in discussions about casino accountability and bank fraud prevention.

Frequently asked Questions

💰How much did Brian Molony steal?

Molony embezzled $10.2 million from CIBC over 18 months.

👮‍♂️How was he caught?

In one night, he lost $1 million at Caesars Atlantic City, triggering an investigation.

🤪Did Caesars face consequences?

Yes, Caesars was fined $36,500, forced to close for a day, and penalized six employees.

❔How long was Molony in prison?

He served two and a half years, though some reports suggest six.

💸What happened to the stolen money?

Most were lost gambling. CIBC recovered some funds in a private settlement.

Denis Anipchenko
Denis Anipchenko
Editor-in-chief and online gambling expert

Denis is a true professional with many years of experience in the gambling industry. His career started back in the late nineties when he worked as a croupier, pit boss, manager and casino manager. This unique experience allowed him to deeply understand the world of gambling from the inside. Since the late noughties Denis has dedicated himself to writing articles and analyses about gambling, and since the early tens he has become a key figure in the Casinoz team. Here he not only writes and edits content, but also creates reviews, shares his expertise and helps readers understand the intricacies of gambling. Denis combines practical experience and in-depth knowledge, making him one of the most respected experts in the industry. His writings are always up-to-date, proven and useful information for anyone interested in the casino world.

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Facts checked Alex Vasilev Scientific editor and fact checker
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