Gambler ‘couldn’t help’ staking bank’s money

A 29-year-old Swedish gambler has been charged with aggravated fraud after a security failure allowed him to play, and lose, 700,000 kronor ($90,000) of his bank's money.

The 29-year-old from Gothenburg was busy gambling online on a November night in 2006 when he discovered that he could obtain unlimited credit from his bank to stake in the game.

The man made a series of transfers, one totalling 70,000 kronor, which he then promptly gambled away.

He was able to make the withdrawals as a security check at Swedbank’s internet bank was temporarily out of order.

According to the prosecutor, the man is not suspected of having any knowledge that the bank was experiencing problems with its security at the time.

The Gothenburg gambler was not alone in having made use of the fault and several other people have, independently of each other, managed to obtain credit.

The 29-year-old has admitted the fraud.

“He has understood that he has committed a crime but says that he couldn’t help it,” said district prosecutor James von Reis to news agency TT.