Trust Money

Hokitika Guardian, 11 July 1922, Page 1

Trust Money

ALLEGED FALSE DECLARATION AUCKLAND, July 10.

As a sequel to the bankruptcy of the local firm of Hammond and Crncknell, three charges of having made false della rat ions in respect of that firm’s trust account were preferred at the police court against Mas. Waring Jamieson. Tho evidence showed that accused had forwarded the officer in charge .of the audit of solicitors trust account, a certificate marked “ audited and found correct,” with a declaration to the effect that the certificates wore true and correct reports. Accused had never made a report to the Solicitor-Gen-eral in accordance with Section 11 of the Act. , An Hcountant gave evidence that the trust account books were kept ill such a fashion that it was impossible at anytime to ascertain the substantial position of the trust funds. Tlu-re had been a deficiencv in the trust account since March, 191(1. There were certain irre'Utlai itics ; money having been advanced to clients out of trust funds without provision. Interest had been paid on the money in hand, while the hooks also showed that the partners had overdrawn their profits, the o\uduiwings coining out of the trust hinds. Had a schedule of the trust balances been extracted and compared with the bank balance at any time during 1910, the trust account would have shown a deficiency. *, Tho Official Assignee said the de-fich-m-v in the estate was about £4.300 neai* 1 y all the claims being for Dust monevs. ... , Accused pleaded not guilty, and reserved his defence. He was committed for trial, bail being allowed at CI(KL