Wellington, March 20 NZPA - As Stephen Versalko starts his six-year jail term for defrauding ASB bank of nearly $18 million, his wife has vowed to stand by him.

The former Auckland bank employee defrauded 30 clients over a seven-year period, splurging $3.4m of stolen money on two Auckland prostitutes, more than $4m on property, and $300,000 on wine.

Versalko's brother Greg said the offending was a huge shock to his extended family but they would support him during his time in jail.

Greg Versalko said his brother's wife, who was not at court for Thursday's sentencing, was standing by her husband.

"All the way through she's stood next to him. I'm sure that his family will miss him when he's inside. Definitely all of us will be there to visit him," he told the Dominion Post.

"What he's done is certainly not acceptable but he's my brother and from my perspective I'll be there to support him for the next six years.

"From a victim perspective we're obviously very sorry for the people that have been affected."

ASB Bank has repaid the clients defrauded by Versalko and launched legal action to force the sale of one of the prostitute's houses to recoup about $1 million.

Massey University banking specialist David Tripe said the bank was within its rights to recoup as much money as it could.

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