£250,000 GONE

Hokitika Guardian, 24 June 1932, Page 8

£250,000 GONE

DISHONEST SOLICITORS. SYDNEY’S RECORD. SYDNEY, .June 9. It is certain, as tbe result or recent revelations, that as soon as the e.v* won turmoil dies down, the New South Wales Government will lie compelled to give eoiusideration to methods of supervising trust funds by solicitors. Looseness hr this connectionduring the last 18 months has put tbe members of the profession in a iiad light, and has cast a slur upon all of them. A solicitor who recently commuted suicide leit a deficiency limning into thousands. L!is books were so badly kept that an accurate estimate of tbe amount involved b n not been possible, hut it will ccrtainl . exceed £15,000. The revelations concerning the estate of the late Ur ! ■ K. Bowden, who was Minister for Defence while he practised a$ a solicitor at Par;amattn, was a severe shock to those who had placed implicit trust in bis elfisß.

Several Sydney solicitors have been for. ed into bankruptcy during the last few months, and an examinot on of some of the accounts has reveille' a most disturbing state of affairs. In fact, it is estimated that in less than two years dishonest solicitors in New Smith Wales have squandered their clients’ money to the tune ol £250,000. That amount inducts the enormous misappropriations of William Carnegie Clegg, who is now serving r term of imprisonment. H's affiairs have been before the Jamikruptev Court, and he lias maintained a callous attitude towards Irs clients. It is books are in a state of muddle, and each morning lie is brought from the prison to the city where be assists in unravelling tbe tangle. He is. tbe on’v prisoner who comes to the city each day fo" bis “bard labour.” In most- instances widows have been the greatest, sufferers as the result of the dishonesty of solicitors. The solicitors appe'r to have been only too vmH.lv to take advantage of those who are ignorant of the law. A solicitor accused of dishonesty receives no merer from the Court, and iis promntlv sh-ck off the roll'. Where criminal •■»’o«eout:on is not possible, the next step is usually to the Ban hr note* CVrt. and there rsomo amazing stories lr>ve been told. One ex-sdic-itcr recently -was unable to i-v-y what had become of £12.000 in trust money. His bode, lie asserted, had been taken to his home, by in’stake an' 1 there carelessly burnt to cinders. Pome time ago the Lav Council and other bodies asntated for a >-vstematic audit of trust accounts, hut the various Governments of New South Wales have always been toe lmisv with other matters to pay p.n” attention. Now, public opinion is likely to force action.

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