Stephen Versalko, the 51-year-old, ASB Bank adviser, who stole millions of dollars from his employer, has been ordered to pay back most of his ill-gotten gains.

He is said to have stolen $17.8 million from 30 clients using the money to buy properties, wine, overseas trips and entertain prostitutes.

Being sentenced for six years in March, the court ordered him to serve a minimum of four years before he could apply for parole.

The court ordered Versalko to repay $14,032,686.50, costs of $12,800 and disbursements of $1900

The bank is reportedly also taking legal action against prostitutes to recover millions of dollars Versalko lavished on them. ASB Bank has been awarded more than $14 million owed to it by convicted fraudster Stephen Versalko as it tries to recuperate more of the stolen money.

By the time Mr. Versalko pleaded guilty to the fraud charges ASB had already seized the proceeds of the sale of his Remuera house and his holiday home on the Coromandel, which had both been bought using money he acquired from the bank's clients.

High Court at Auckland Justice Forrest Miller issued a judgment against Mr. Versalko for $14,032,686.50, the remaining amount owed to ASB.

In March the former investment adviser for the bank was sentenced to six years in jail for ripping off 26 wealthy clients for a total of $17.7 million dollars.