FRAUD ON CREDITORS

Dominion, Volume 24, Issue 50, 22 November 1930, Page 13

FRAUD ON CREDITORS

Bankrupt’s Omission

TWO MONTHS IN PRISON

Guilty, in the opinion of the bench, of what was tantamount to fraud on his creditors, Velimir Bingula, bankrupt res-taurant-keeper, (Mr. Maude) was sentenced by Mr. E. Page, S.M., in the Police Court yesterday, to two months’ imprisonment on each of two charges of a breach of the Bankruptcy Act, the sentences to be concurrent. The charges were: Failing to disclose the sum of £2OO to the Official Assignee, and failing to keep proper books of account. “I can quite understand the working of this man’s mind,” said Mr. Maude. “He thought that after working long hours for five years he was getting nothing out of his business. He thought he should at least have some money out of it. I submit that this man's long hours of work, which amounted at times to 16 hours a day, affected his mind.” A contractor had held accused up and placed him in debt. All his creditors had been prepared to give Bingula a chance except one, who had insisted on issuing a petition against him. Counsel asked for leniency. “This action of the accused constituted fraud on his creditors, and I think a term of imprisonment should be imposed,” said the magistrate, Mr. E. Page, in imposing sentence.