BIG SUM INVOLVED

Dominion, Volume 20, Issue 297, 14 September 1927, Page 13

BIG SUM INVOLVED

A DUNEDIN BANKRUPTCY

ALLEGATION REGARDING CONCEALED ASSETS By Telegraph.—Press Association Dunedin, September 13. ■ The first meeting of the creditors of the bankrupt estate of George Thomas Swann, who was sentenced on February 11 to three years for obtaining money bv false pretences, was held this morning. It had been stated that the amounts involved probably totalled £20,000, and Mr. White, for the petitioning creditor, stated that the reason for the bankruptcy proceedings was that it seemed incredible that Swann could have gone through that amount. It was suspected that there were concealed assets. Bankrupt was not present, but his solicitors submitted his statement as to the machinery deals that formed the basis of his transactions. He said that his memory had been impaired as the result of the strain, and that he must have been mentally unbalanced during the last year of his trading. The people with whom he traded had got all the profits bat ring expenses. The Assignee said that arrangements would have to be made with the Prison Governor to bring the bankrupt down for examination. The meeting accordingly adjourned.