Insurance Agent Jailed For Gambling $2 Million at Online Casinos
Aug 23, 2011
A former Prudential insurance agent who stole and gambled away $2 million in client investment funds at online casinos was sentenced to six years in prison.
Daniel J. Trolaro, 35, was a rising star at Prudential insurance of Oakland in charge of some of the company’s biggest clients. The cocky insurance agent has been an over-achiever since grade school and has never encountered a mountain he could not climb or a river he couldn’t swim.
Whether it was from overconfidence, hubris or perhaps Mr. Trolaro was simply mentally deranged – the insurance agent decided to gamble his clients’ investment funds at online casinos and get higher yields with casino online bonuses.
According to casino gambling news, Mr. Trolaro honestly believed that the stock market, real estate, and commodities investments were too volatile and risky so he decided to bet on his own (non-existing) skills at online casino games.
Mr. Trolaro added himself to the accounts of his nine biggest clients within the Prudential computer system and cashed out a total of $1,533,000.00 which he immediately deposited at a few online casinos.
While he did reasonably well at online casino blackjack, he wanted to play for high limits which led him to no-limit ‘heads-up’ poker. This was where Mr. Trolaro, whose only prior poker experience was watching the movie ‘Rounders’ ran into problems.
As an ancient philosopher once said – ‘before learning how to run, one should learn how to crawl’ – and Mr. Trolaro, who hasn’t even ‘crawled’ in online poker, did not survive running with the best online poker players in the world.
He lost every penny, including his own savings between June 2008 and Feb. 2010. He even managed to borrow an additional $310,000 from his clients and still got crushed at nose-bleed levels of no-limit online poker.
Greg Gutsko, a high limit poker player, explains that it takes skill to beat high limit poker games which cannot be learned from only reading a book or watching a movie.
Last Friday, Daniel J. Trolaro, who pled guilty to second-degree theft on July 6, was sentenced to six years to be served at Rahway State Prison in Northern New Jersey.
Rahway State Prison, also known as ‘The Belly of the Beast’, has the dubious distinction of having more prison rapes than any other facility on the East Coast of the United States.
In fact the 1991 hit hip-hop video made inside the prison by inmates serving life sentences glorifies the practice of raping new inmates who are ‘not from the streets’.
All investors were fully compensated by Prudential Insurance, including for the private loans taken by Mr. Trolaro, which are against company policy.
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