OVER £7000 TRUST MONEY MISSING.

Manawatu Herald, Volume XLIX, Issue 3880, 6 December 1928, Page 2

OVER £7OOO TRUST MONEY MISSING.

AUCKLAND SOLICITOR INVOLVED. Auckland, December 4. At a meeting of creditors of Hector Robert Malcolm, solicitor, a committee was formed to go into his affairs. The Official Assignee said the trade debts were £427 and the deficiency in the trust funds £/171. These figures, however, were not complete. People had gone to him alleging defalcations, but had not returned to make further statements. It appeared that all that was left in the trust account was £l3. The books had hardly been kept at all since last March, and it was very hard to determine just what the book debts were. The only asset from which he expected to get any considerable sum was on an interest in a coal company in Taranaki, in which Malcolm held shares. Ihe Assignee said he would call another meeting when the adjudication of Malcolm as bankrupt went through. At present he was merely the receiver. He understood a creditor had issued a warrant for Malcolm’s arrest, and that he had gone to Australia.