Retired timber worker lent housewife $30,000

Press, 11 June 1977, Page 22

Retired timber worker lent housewife $30,000

PA ~ Wellington. Though warned against it by his bank manager, a retired Lower Hutt timber worker allowed $30,000 of his money to be lent for a short term, on the promise of a profit of up to 50 per cent. The money was given to a Masterton housewife, Susan Mary Pilmer, and not returned, the Supreme Court at Wellington, was told.

Pilmer had said she wanted the money to buy a house in Hamilton which was going to resell at a profit of $lO,OOO to $15,000.

Pilmer is on trial on 16 charges of false pretence involving more than $250,000. The charges relate to a three-month

period late last. year. The trial is before Mr Justice White and a jury. Mr K. G. Stone appears for the Crown, and Mr B.

D. Inglis, Q.C., with him Mr R. J. D. Buddie, fur Pilmer. The trial is continuing. The retired timber worker,. Keith Maurice Cowan, said that his money had been lent to Pilmer through his nephew, Austin Peter Whittaker. Whittaker had previously borrowed $7OOO to lend to Pilmer, and that money had been returned a week later with an extra $l2OO. Whittaker told the court that he had met Pilmer after being told about her bv an accountant where

his wife worked. A Masterton insurance agent, Colin Leslie Smith, said he had heard of Pilmer’s reputation for good financial deals on shortterm loans.

He had got in touch with her in October, 1976 to discuss investing money with her. Pilmer had told him of a cheap set of flats which were for sale in Plimmerton because the owner was in financial difficulty. Smith said that he invested $lO,OOO with Pilmer on the understanding that she would buy the flats and sell them again at a profit and that any gain would be shared. Pilmer had told him that it would be at least 10 per cent. A month later, Pilmer had told him the deal bad gone well and that she had $12,000 for him, Mr Smith said. The money, it was agreed, would be lodged with an Auckland lawyer for a month at 25 per cent interest. Mr Smith said that he did not receive the money

after the month. A Pahiatua company director, Douglas Gunn, said he had known Pilmer for six or seven years.

In September, 1975, Pilmer had visited him to discuss investing $lO,OOO to buy sheepskins for the Japanese market. Six to eight weeks later Piimer returned the $lO,OOO and offered him another $BOOO return. He retained the $lO,OOO and asked Pilmer to invest the rest in Wellington at 10 per cent interest. In February and May, 1976, he gave Pilmer further sums of $20,000, $30,000, and $20,000. Each time the money was returned with similar dividends to the first occasion. The surplus money was invested by Pilmer in Wellington. In October, 1976, Gunn said that he asked Piimer to return the money he had invested in Wellington. He received a cheque for $44,000 from Pilmer. At first Pilmer’s bank declined to honour the cheque, but after it had been held for a day it was cleared.

Gunn said that Pilmer had visited him on October 6, at his Pahiatua home. She had told him that a Woodville fanner

was selling Bank of New South Wales and N.Z. Forest Product shares. She offered him the chance to buy some of the shares, which she said could be sold in- Wellington at a profit. He gave Pilmer $30,000 with which to buy shares for him. That was on a Wednesday, he said. He expected her to go to Wellington and sell the shares and then return his money', plus $5OOO to $6OOO, early the next week. He next saw Pilmer on October 28. She promised him a cheque for the amount he had invested, which arrived the next day, but was not honoured by the bank. An accountant, Bernard Patrick Harvey, of Pahiatua, said he had been introduced to Pilmer in May, 1976, by Mr Gunn-. He lent Pilmer $20,000 to buy home units in Masterton. Pilmer had told him that the owner was in financial trouble and that the flats could be bought cheaply and sold at a profit.

That investment returned a $2OOO profit, Harvey said. Pilmer had promised $6OOO. He later invested another $20,000 to buy a house in Upper Hutt, from. which Pilmer said he would make $5OOO profit from On October 4. before he had received his money back from the Upper Hutt property, Pilmer telephoned him from Wellington to say z that there was commercial property for sale in the Petone area, which was valued at $BO,OOO but could be resold for $lOO,OOO.

Mr Harvey said he had agreed to invest $40,000. A few days later, he received $25,000 from Pilmer as repayment for the money invested in the Upper Hutt property. Later in 1976, he tried to find Pilmer but had difficulty doing so, he said. He finally met her by calling at her Masterton home. He was then told that his $40,000 was invested with Dishmasters in Wellington and would be returned after the property transaction was completed, probably the next day. } A meeting was arranged I but Pilmer did not arrive. Pilmer telephoned him that evening to say that her solicitors at Paraparaumu had the money and he would get it the next day. To Mr Stone, Harvey said he had not received any of the $40,000. He had taken rough details of the location of the Petone property, but was not sure of the exact siting. He had not attempted to discover it, Mr Harvey said. Carter backs Young President Carter has defended the controversial United States Ambassador to the United Nations, (Mr Andrew Young) in a wideranging review of foreign policy issues before a top;level gathering of Congres-I jsional leaders. According to I the House of Representatives) Republican leader (Mr John' Rhodes), Mr Carter said that Mr Young “was making strides toward better understanding with the underdeveloped nations” in Africa. —Washington.