Businessman charged with embezzling $6 million to pay bookmaker

 

Andrew Sigalla, the former chairman and chief executive of TZ Ltd., was charged with taking A$6.2 million ($6.1 million) in 2008 and 2009 from the accounts of the company, which makes electronic lockers, and then using most of the money to pay off debts with bookmaker Tom Waterhouse. Waterhouse forced Sigalla into bankruptcy in 2010 over debts of A$2.6 million.