Books & Videos: Punting nightmares? Try this one for size.

Byline: MIRIO MELLA

At ten, he made a profit of $50 bunking school to bet at Toronto's Western Raceway. By 1982, just 28, he was assistant manager of a City bank. On a salary of $20,700, the unassuming nerd with the ill-fitting suit had developed a gambling obsession of unrivalled intensity. Over 18 months, he defrauded his employers to the tune of $10million: the biggest single fraud in Canadian banking history.

Gary Ross's book, rediscovered following its adaptation into a successful film (Owning Mahowny), catalogues Brian Molony's spiralling emotional and financial deceits. Ross weaves weaving journalistic style with artistic sensibility and, unlike the film, makes us feel privy to Molony's thoughts and feelings.

As Ross succinctly puts it: "Not only did the track represent salvation, it was the one place [Molony] was able to put out of his mind - if only for 120 seconds - the secret buried in the banks books and the pit of his stomach."

In learning how banks and casinos function,we understand how - with culpable ease - Molony was able to take advantage of the shortcomings of both.

The suspense grows as Molony gradually loses control of himself, any sense of perspective of his gambling, and the fraudulent loans he set up. Distancing himself from friends and family, he immerses himself in his obsession.

At times, Molony's conviction that he can gamble his way out of the nightmare is almost seductive - but any sympathy evaporates as the house of cards comes crashing down and he faces the aftermath of his `crusade' and the impact it has had on his family and friends.

MIRIO MELLA

nPublished in Canada; available online at www.amazon.co.uk

CAPTION(S):

Stung - The Incredible Obsession of Brian Molony Gary Stephen Ross (McClelland & Stewart, $24.99)