ACCUSED GUILTY

Press, Volume CIX, Issue 32222, 14 February 1970, Page 18

ACCUSED GUILTY

Companies Act Case After a week’s trial, Sydney Raymond Forsyth, former general manager of the Credit Union Society of Canterbury, Ltd, was found guilty in the Supreme Court yesterday afternoon on three charges under the Companies Act, 1955, and was remanded by Mr .Justice Macarthur for sentence on February 20 The charges stemmed from F'orsyth’s management of the Credit Union Society, which was wound up by court order on July 28, 1966, and has shown a dedciencv of about $27,000.

Forsyth was charged that between August 11, 1965, and June 24, 1966. he was manager of the society—registered under the Industrial and Provident Societies Act, 1908 —in respect of which propel books of account were not kept: that in April, May, and June, 1966, he was knowingly a party to the carrying on of its business with intent to defraud its creditors: and that on June 20. 1966, he destroyed papers relating to the society’s affairs, within 12 months of the commencement of its winding-up. Forsyth had pleaded not guilty on all three counts, and conducted his own defence. The jury, after a retirement of three hours 20 minutes, returned a verdict of guilty on all counts. Mr N. W. Williamson, with him Mr W. S. Smith, conducted the case for the Crown.