THE SCHAEF CASE

Dominion, Volume 11, Issue 97, 17 January 1918, Page 9

THE SCHAEF CASE

ALLEGED CONCEALMENT OF ASSETS. COMMITTED FOR TRIAL Arthur Waldemar Schaef, photographer, of Wellington, was charged in the Magistrate's Court yesterday, before Mr. W. G. Riddell, S.M., with: (1) Having been adjudged a bankrupt, he did fail to deliver up possession to the Official Assignee the sum of £1500, which is divisible amongst his creditors, the said sum being in bis possession or under his control; (2) that on or about October 5. 1917, he did, after the presentation of the bankruptcy petition against him, conceal from tho Official Assignee a part of his property, namely, the sum of £1500; and (3) did fail to keep such books of accounts as are usual and proper in tho business carried on by liirn and as sufficient to set forth his business transactions and discloso his financial position. Mr. J. Prendevdle, of the Crown Law Office, appeared for the Official Assignee, and Mr. P. W. Jackson for Schaef. The three charges were taken together. S. W. L. R. Tansley, the Official Assignee, produced the certificate of the bankruptcy of Schaef. He staled that bankrupt delivered to him certain order book, the two produced being samples of these. The books did not show receipts and cUsbursemonts, mid it was impossible to ascertain the bankrupt's financial position from the books. Bankrupt did not produce any bank book. The banks were _ circularised, but they did not know Schaef. The bankrupt was asked by witness if he had sold bis property for £1500, and lie roplied "Yes, but you won't be able to trace it. They will not get it." Witness had -received no cash at all from the bankrupt. To Mr. Jackson : The books produced were order books, and even if bankrupt did a cash business ho would need proper books. A statement could be made up from the order bocks if they contained all the cash entries. Witncsa did not specially ask for receipts, but demanded all. books, papers, etc., as was usual. Witness received £85 from the sole of bankrupt's stdok, which appeared to be rubbish. There were no cameras. Bankrupt readily answered questions regarding, the sale of bis property. When asked where the money was, he replied, "You won't be able tn trace it." Hβ also said: "They will "not. get it," which witness took to mean that the petitioning creditors would not get.it. Re-examined: After the bankruptcy he received one small amount of £2 voluntarily sent in by a debtor io the estate. Bankrupt had stated that he had no book debts. '

F.E. Ward, solicitor, slated that he acted in respect to the sale of a property owned by Schacf, about July 111 last. The money, £L"i 00, was paid over to Schaef tho day after- witness received it. ' William Charles Mason, Cleric of the Supreme Court, produced the tiles in connection with Sclmef'H bankruptcy. This closed the case for the prosecution. Accused -pleaded "Certainly not guilty," reserved his defence, and was committed to the Supreme Court for trial. Biiil was allowed in £150 and one surety of £150.