“A DANGEROUS MAN”

Sun (Auckland), Volume III, Issue 803, 25 October 1929, Page 7

“A DANGEROUS MAN”

BANKRUPT REFUSED HIS DISCHARGE PUBLIC INTEREST INVOLVED “I have to consider, in the public interest, whether it is wise to release a man like this. The offence was a very bad one, so bad that he was sentenced to imprisonment." THIS comment was made by Mr. ■** Justice Herdman, in the Supreme Court today, in refusing to grant a discharge from bankruptcy to Gennaro Xigro, an Auckland agent. Supporting the motion, Mr. Greville said that Xigro was adjudicated bankrupt in July, 1925. Early in 1926 he was convicted of two breaches of the Bankruptcy Act, and was sentenced to a term of imprisonment, which he served. On being released Xigro applied to Mr. Justice Stringer for his discharge from bankruptcy, but his Honour declined to grant release. Since then Xigro had had two further years’ probation so far as his business conduct was concerned. Bankrupt was married, with two children, and he was now out of work. “He is a dangerous man to get loose on the community, isn’t he?” asked his Honour. ‘ I think he figured in a case I heard at Hamilton, too.” Mr. Greville: That was a case against his brother. Counsel argued that Xigro had received his punishment, and had learned a lesson. Opposing the motion,. Mr. Mackersey said that Xigro had been a land speculator for years. His modus operandi was to obtain an option over a heavily encumbered city block of shops, on a small deposit, induce farmers to exchange their properties for the city blocks, the value of which was advanced by Xigro from between £2,000 and £6,000. In this instance, Xigro secured an option over a Dominion Road block of shops, which were mortgaged for £II,OOO, increased the price to £IB,OOO and managed to get a farmer to exchange his farm for the shops and another blackberry-infested property at Drury, both of which were of little use. Xigro thus obtained between £3,000 and £4,000 worth of stock and £2 : 000 in cash. Immediately Xigro obtained possession of the farm he stripped it bare, removing the stock, which he claimed belonged to his brother when the mortgagee wanted his interest. Bankrupt had kept no books, althoygh it was known that huge sums of money had passed through bankrupt's and his brother’s hands, of which there was no trace. The discharge was refused.