THEFT OF £l060 FROM COMPANY

Dominion, Volume 36, Issue 104, 27 January 1943, Page 8

THEFT OF £l060 FROM COMPANY

Director Pleads Guilty

committed to supreme COURT-FOR SENTENCE

Leonard Bowley Bolton-. Moss, company director, pleaded guilty in the Magistrates’ Court, Wellington, yesterday to live charges of having, '''bile managing director of the firm of Hamiltons (Atli»tralia and N.Z.) Limited, ou various dates in 1930, 1040 and 1041, converted to Ins own use sums totalling £lO6O. The sums had been paid to him "Jtli a direction that they should be applied as capital moneys of the Luminous 1 aint. Syndicate, and expended solely in payment for the New Zealand selling lights in respect of certain fluorescent compounds-, and the costs of and incidental to certain investigations in Australia. The charges included the sum ot IM received from Leslie Ldwin Lovell, at Wellington, on or about October J, IJ3J. £5OO from John Tinliue Harkness, at ■Wellington, on February 10, IJIO, t-ou from William Smith JlacGibboii. at Wellington, on or about February ~0, 3940, £250 from Gilbert Mark Trumaii, at Wellington, on or about. February -4, IJ4I ; £lO from Gilbert Stanley boord. at Wellington, on or about June 26, IJ-11. The ease was heard by .Mr. Stout, S.M. Mr. IV. H, Cunningham conducted the prosecution and accused was not represented by counsel. Leslie Edwin Lovell, accountant in the employ of the Land and Income lax Department, said that about September, 1939, accused approached him with a view to getting him to put some money into patents for luminous paint. Demonstrations proved eminently satisfactory, and be eventually advanced £5O to join a syndicate to exploit the rights of certain patents. He paid the £5O to accused bv cheque, and received a receipt. Witness received a letter from accused, setting out how the £5O was to be expended. The understanding was that witness could have a return of bis money at his request, or alternatively be could join a syndicate to exploit the patents. He had never received his money back.. Thomas McGill, salesman, said that in May, 1940, witness was employed by accused in getting subscribers- for a luminous paint syndicate. Witness worked in the Auckland. Hamilton and Pahiatua districts, and obtained six subscribers in Auckland and one in Pahiatua. They paid their money in full and received an undertaking in writing that their money would be returned if the syndicate did not go through. Witness had the cheques made payable to Hamiltons (Australia and N.Z.) Limited, and forwarded them on to that company’s office in 'Wellington. Percival Albert Beecham, salesman, Auckland, said he was employed by accused as salesman in connexion with a luminous paint syndicate in 1939. Witness obtained a number of subscribers and sent all moneys collected by him to Hamiltons Limited at 'Wellington. Witness was paid commission for the subscribers he got. Francis Henry Keniber, public accountant, Wellington, said his firm were auditors for Hamiltons (Australia and N.Z.) Limited. This firm originally was a private company, but was registered in 1937 as a public company.. The company went into voluntary liquidation ou August 6, 1941, and subsequently it was ordered to be wound up by the Court. In Mav 1939. accused owed the company £2977717/8. ' . In answer to accused, witness said he had no knowledge of his father agreeing to holding up the company's balance-sheet George William Brown, official assignee. said that he became the official liquidator of Hamiltons (Australia and N.Z.) limited, which had been ordered by the Court to be wound up. The books of the company showed subscriptions by various persons to a luminous paint syndicate. which showed £9146 had been subscribed. The earliest of the subscriptions came in in Mav, 1939, the last being dated June, 1941. When the first subscriptions were paid in in September, 1939, the company’s bank account was in overdraft to the extent of £174 odd. In July, 1941. the account was in credit 13/B. Certain subscribers got. their money back to the extent of £995. There was nothing whatever to show for the money which had been subscribed by the members of the syndicate. No company was formed to exploit the luminous paints. Detective-Sergeant J. Thompson said that on December 30 last, at the Central Police Station, Sydney, accused was charged on three charges with the theft of moneys from Hamiltons (Australia and N.Z. I Limited and made no reply. Witness brought accused buck to New Zealand, where accused made a statement, in which be said he intended to plead guilty to the charges relating to the theft of moneys belonging to the luminous paint 1 Accused pleaded guilty to all the charges and was committed to the Supreme Court for sentence.