In the US, you have to disclose every arrest, criminal proceedings, etc. along with all debts, so this would come out. And they can can deny you for things that aren't convictions. That said bar examiners like a good human interest story as much as anyone else. A former bank robber got admitted to the Washington bar last year after he started doing Supreme Court appellate work while behind bars.

>To be fair, the bank footed the bill, not society, so it is a net gain.

This may be true in the short term but it seems more likely the bank's customers will pay in the long term. ;-)