A former Inuvik, N.W.T., town councillor has been sentenced to two years less a day for stealing nearly $500,000 from three businesses.

The judge also ordered Grace Elizabeth Loreen, 50, to repay the money to the businesses.

Loreen stole the money over a three-year period to fund an online gambling addiction. 

The judge said the offence was a breach of trust and that at the time of the pre-sentencing report, Loreen hadn't stopped gambling.

She stole most of the money from Deline Construction. The theft left the company unable to pay employee salaries and loans on equipment, resulting in a loss of  up to $1.3 million.

After serving her sentence, Loreen will be on probation for two years. One of the terms of the probation order bars her from  handling money in any future employment.

Loreen served as a town councillor in Inuvik from 2006 to 2009.