As we approach the end of the year, it’s time for our second-to-last Letterboxd List review of 2024! This week, I explored a particularly robust list and selected a film at random. From the featured list titled Guillermo del Toro’s Twitter Film Recommendations, which includes 536 films, we’ll be focusing on one inspired by true events…Owning Mahowny (2003).
Title: Owning Mahowny
Director: Richard Kwietniowski
Runtime: 1 hour 44 minutes
Released: January 23, 2003 (Sundance Film Festival)
Available to stream on: Prime Video
Owning Mahowny (2003) is based on the true story of a Canadian banker who embezzled millions. Philip Seymour Hoffman plays Dan Mahowny, a man who looks like the walking definition of ordinary. He’s unassuming, awkward, and somehow always disheveled. But underneath it all is a man with a crippling gambling addiction that he can’t control.
After being promoted to Assistant Branch Manager at his bank, Mahowny gains access to larger accounts. His boss remains completely unaware of Mahowny’s gambling problem, allowing him to skim money off these accounts unnoticed. Mahowny’s actions are motivated not by greed or the desire for wealth, but solely to feed the monster within.
His girlfriend, Belinda (Minnie Driver), works at the bank with him. While she knows about his gambling addiction, she remains in the dark about the embezzling. But make no mistake, Belinda is no fool. Driver gives her character a depth that could have easily been overlooked, showing both her loyalty to Mahowny and her growing frustration as she watches him spiral deeper and deeper into his addiction.
Mahowny doesn’t gamble for the thrill or for the money. It’s all about the compulsion. Hoffman plays him with incredible restraint, subtly conveying Mahowny’s quiet desperation. His performance is criminally underrated, with all the emotion packed into the smallest details from how he holds himself, how he avoids eye contact, and how every decision pulls him deeper into trouble.
As Mahowny’s gambling habits escalate, the tension intensifies. Casino manager Victor Foss (John Hurt) immediately senses Mahowny’s vulnerabilities. He’s not an overt villain, but his calm, professional demeanor makes it clear he’s more than happy to exploit Mahowny’s addiction. The casino scenes are intentionally stripped of glamour. The focus isn’t on the glitzy allure of gambling, but rather on how it feeds the beast of Mahowny’s addiction.
Owning Mahowny focuses on the banality of addiction and how it takes over a person’s life in a repetitive, mundane way. Mahowny’s days are filled with lies, fraudulent transactions, and high stakes gambling that somehow never feels exhilarating. The film’s tension comes from the quiet moments. The brief glance at a computer screen as Mahowny manipulates bank funds, the way he awkwardly brushes off questions from his co-workers, and the slight crack in his voice as he assures everyone he’s still in control.
This is not the kind of film you’d expect from a story about a bank manager embezzling millions. It’s not a fast-paced thriller or a flashy heist movie. Instead, it’s a character study that leans into the raw, real aspects of addiction.
Owning Mahowny was an unexpected gem that I’m glad I found. There’s no happy ending, and you won’t walk away feeling upbeat. But one thing is for sure, this film will linger with you long after the credits roll.
Well, you know the drill. Now it’s your turn.
Drop a comment below or reach out to me on Bluesky and let me know what you thought of Owning Mahowny (2003).
As always, give me a follow over on Letterboxd to see my quick thoughts on everything else that I’ve been watching.