Between 1980 and 1982, Toronto bank employee Dan Mahowny is given access to bigger and bigger accounts with his promotion to assistant branch manager. His boss trusts him, but is unaware that Mahowny is a compulsive gambler. Mahowny is soon skimming larger and larger amounts for his own use and making weekly trips to Atlantic City, where he is treated like a king by a competent casino manager. Mahowny's girlfriend, fellow bank employee Belinda, cannot understand what is happening. Mahowny's criminal acts come to light when Toronto police begin to investigate his longtime bookie Frank. The movie's focus is on Mahowny as a character—how his compulsion drives him and all the domino effects it has on the rest of his life. The love story between Mahowny and Belinda and the inclusion of other finely drawn characters such as hapless casino employee Bernie put the emphasis squarely on the gambling addiction, not on the flash and sizzle of big casinos or multimillion-dollar frauds.
Owning Mahowny is based on a real-life incident: Canadian Imperial Bank of Commerce clerk Brian Molony embezzled over $10 million from his employers in just 18 months to support his gambling habit. Molony's story was told in the best-selling 1987 book Stung by journalist Gary Ross, which formed the basis for the screenplay. In an interview on the web site of Stung publishers McClelland and Stewart, Ross says he has kept in touch with Molony and updated what happened to him after the events portrayed in the movie. Molony served six years in prison after pleading guilty to fraud. He has not gambled since his arrest, has married his girlfriend, has three sons and works as a financial consultant. Molony was a manager at the Canadian Imperial Bank of Commerce, with access to significant resources. Upon the discovery of his gambling addiction and his crime, he was prosecuted in Canada by Crown Attorney Peter DeJulio. Molony was defended by the late Edward Greenspan. He received a sentence of six years imprisonment, as sought by the Crown. The Canadian Imperial Bank of Commerce took court action to recover funds from casinos in Atlantic City that enabled Mr. Malony's gambling addiction. The case was settled for an undisclosed sum.
Reception
Review-aggregator site Rotten Tomatoes indicates that 79% of critics gave Owning Mahowny a favorable review, with an average rating of 7/10. Film critic Roger Ebert named Owning Mahowny one of the top ten films of 2003, and assessed Hoffman's performance as "a masterpiece of discipline and precision", calling him a "fearless poet of implosion, plays the role with a fierce integrity, never sending out signals for our sympathy because he knows that Mahowny is oblivious to our presence." However, some critics believed that in his self-effacing performance, Hoffman refused to conform to expectations of a typical movie character and that the movie suffered as a result. Stephanie Zacharek considered him to be a "character who squirms right out of our grasp", and despite being the movie's anchor, he's "such a vaporous one, he leaves us feeling adrift". Asked whether Philip Seymour Hoffman's portrayal matched with the real Brian Molony, journalist Gary Ross replied, "Remarkably so. They have the same stocky build, bushy moustache, glasses, slightly unkempt look, and earnestness. And Philip somehow managed to assimilate the psychic essence of Molony — a yawning emptiness that nothing except gambling was able to fill." Owning Mahowny earned $1 million, significantly less than its $10 million budget.
