£50,000 BY FRAUD

Press, Volume XCV, Issue 28266, 2 May 1957, Page 6

£50,000 BY FRAUD

Woman Sent To Prison

(New Zealand Press Association) WELLINGTON, May 1. “You are completely without conscience as far as money is concerned,” Mr J. S. Hanna, S.M., told Mrs Iris Lilian Richardson, aged 53, when he sent her to gaol for three years. She appeared for sentence in the Magistrate’s Court today on 13 charges of false pretences, and six charges under the Bankruptcy Act. The Magistrate told her that £50,000 had been lost, “in many cases by people who could ill afford it.” He described the offences as “disgraceful and wicked, cruel and heartless.” “The gullibility of people is incredible,” the Magistrate said. “It should be plain that the lending of money is a business transaction, and that in such cases the use • of a lawyer could well be employed.” For Mrs Richardson, Mr H. Mitchell said he was authorised by the Official Assignee to say there was no reason to doubt her statement that she had no hidden assets.

“There is no suggestion of extravagant living. The money has simply gone on gambling,” he said. For a considerable number of years Mrs Richardson had been under a great strain, said Mr Mitchell. She had kept her affairs to herself and had told neither her mother, with whom she was living, nor her husband. “Harried by Creditors” She had been harried by creditors, and had been putting off the evil day from time to time, he continued. “She is very conscious of the position she finds herself in, and regrets the losses caused to people. She is not brazen about it,” said Mr Mitchell. He said that from the statements she gave to the Official Assignee it was clear she had no hidden reserves, and her whole borrowing had been expended either in repayment of loans, or the payment or interest. The rate of interest was 400 per cent, in some cases, and this accounted for a substantial amount. The woman had been gambling since 1951, and only since 1953 had she been betting with the Totalisator Agency Board. Even with her betting at the Totalisator Agency Board there were few figures. Those figures which had been obtained were about telephone betting. She had also bet in cash with the Totalisator Agency Board.

Before the setting up of the Totalisator Agency Board in 1953, Mrs Richardson had been betting with bookmakers. Mr Mitchell said tha about the time of her bankruptcy she had been on the point of a nervous breakdown.