BANK CLERK’S BETTING

Evening Star, Issue 17953, 26 April 1922, Page 3

BANK CLERK’S BETTING

£3,550 LOST IN TOUR DAYS. “PLUNGING” TO COVER DEFALCATIONS. Tan St. Barbe Richardson, formerly accountant in the Commercial Bank, Hawthorn, was examined before Judge. Monlo in the Insolvency Court at Melbourne last week. In November Richardson was sentenced 'to two years’ imprisonment for having misappropriated £3,550 from the bank. According to his confession, all this money was lost at the races in the course of a. month. Mr Menzics (instructed by Messrs Davis and Campbell) appeared for the Commercial Bank, and Mr Shelton (instructed by Mi 1 J. Barnett) for Richardson. Richardson, who stated that ho was ill, said that he could not remember all the bets he made, but bookmakers named Hill. Shrimpton, Lyons, Mitchell, and Lawford were among those with whom he had had transactions. Judge (Monlo said that Richardson should furnish tho Crown with all information. Some men who had been in trouble, had declared that they had lost money by gambling, but subsequently it had been proved otherwise. Richardson then mentioned the names of some of tho horses ho had backed, hut he said that it was impossible for him to remember all the wagers he had made. Judge Monlo: I think that you should bo able to remember. It was your first visit with the stolen money. Mr Mcnzies: Did you invest all the, £SOO you took out on the first day? Witness said that, he might have had | £lO when the day was ended. On the. second visit to the races ho took £I,OOO to “ square up ” his defalcation. Ho put £SO on Mountain God. and £lO each on several other horses, without any success. On tho third day he. again had £I,OOO to begin, and finished the day with £5. Although on the fourth day he had barked j a winner, ho had about £2 when returning home. At Williamstown he won £650 by backing The Tyrant, but lost this amount later in the afternoon. .Tudgo Monlo: Then you hacked only one winner in four Saturdays, and spent £3,550? Witness: Yes. You simply made a dash with the money from the hank?—Yes. Under further examination Richardson said that in September ho told tho bank manager that his cash was short, and that be would make restitution if time were given. His assets then amounted, at his valuation, to about £1.400. Judge Motile : How were yon going to make restitution? Witness: I might have gone for another plunge on the racecourse, or I might have tried to obtain flic money from friends and relatives. Mr Menzics: What became of the money you received from the sale of your bouse? Witness: I took it to tho Caulfield races with tho idea, of getting money to make restitution. Mr Menzies: Surely you do not expect anyone to believe that? The inquiry was adjourned pending further information regarding Richardson’s racecourse transactions.