Michael Domenico Figliano, from Ramsgate, Australia borrowed heavily from his mother before losing almost $400,000 at a Syndey casino. Figliano was convicted in the Downing Centre Local Court of materially contributing to his insolvency by gambling, the Insolvency and Trustee Service Australia (ITSA) announced in a statement on Wednesday.
The conviction last Tuesday followed an investigation by the ITSA, which found that Figliano had lost a total of $393,643 at the Star Casino in between April 2006 and April 2008. Nearly $2.3 million worth of casino chips were used during this 2-year period.
The 59-year-old gambler, who had a clean record and has been proactive in receiving treatment and self-excluding from the Star Casino, was sentenced to two years of good behaviour and has to pay court costs of $150.65.