Pair swindled finance firms of $30,000

Press, Volume CXVI, Issue 34127, 13 April 1976, Page 3

Pair swindled finance firms of $30,000

(N.Z. Press Association) NAPIER, April 12. A financial swindle by two men during late 1973 and early 1974 amassed $30,000, Sergeant H. J. Finlayson said in the Napier Magistrate’s Court today when one of the pair appeared on four charges of false pretences.

The fraudulent deals involved four major finance companies throughout the North Island. Before the court was Gordon Anthony Timney, aged 31, of Napier, who was arrested last week in Brisbane after extradition papers had been served.

Timney admitted obtaining $3150 from Credit Services Investments, Ltd, Napier, $l6OO from Broadlands Finance Co., Ltd, Palmerston North, $4OOO from Lombard (N.Z.), Ltd, Rotorua, and $4300 from Marac Finance Company, Ltd, Napier. The principal offender in the case had not been apprehended and his whereabouts were unknown, the sergeant said. Timney became involved in the fraud when working as a panelbeater at Waiouru. The deals concerned truck and trailer units which were nonoperational wrecks or norfexistent. ■

The companies were asked to finance the vehicles, and were told of existing contracts for rock carting with Downer and Associates.

On one occasion, Timney phoned Marac Finances purporting to be his own father, and offering to pay “His son’s” loan.

“The next day Timney uplifted the loan, telling the company he wanted to stand on his own feet without his

father’s help,” the sergeant said.

Timney received no more than $lOOO from the fraudulent transactions. His associate opened the bank accounts and drew the cheques, the police said. The pair had also drawnup fraudulent valuation reports on the “trailers” purporting they had been completed by an Auckland firm. In one case the fictitious property was shown to have a value of between $7OOO and $7500, Sergeant Finlayson said.

Mr W. K. L. Dougal, S.M., convicted Timney and remanded him in custody until May 3 for a probation report and sentence.