Sharebroker Admits Theft Of £2167

Northern Advocate, 4 June 1947, Page 6

Sharebroker Admits Theft Of £2167

(P.A.r WELLINGTON, This Day. The theft of £2167/16/2 was admitted by Sidney James Hogg Sawell. 50. sharebroker, before the magistrate (Mr Gouging) today. Mary Elizabeth Thurston, widow, said silt' went overseas in 1936 giving accused, then a partner in a firm of sharebrokers, power of attorney. She returned in 1938.

Accused continued to transact business for her and when she left again in 1939 he still had power of attorney. She produced a list of shares of a total value of £1746/15/7 in various companies held by her. which accused had been instructed not to sell but to pay dividends into her Savings Bank Account.

She also owned a cottage at Pukerua Bay. The rent, which was £1 a week, was collected by the storekeeper and given to accused to pay into her account.

LEFT WELLINGTON

Accused had written several letters to her in England saying the shares were doing well and that he had invested some of her money in Government stock.

When she returned to New Zealand last March accused did not meet her although notified of the time of her nrr i vn 1.

She found he had left Wellington and that some of her shares had been stolon.

Accused had no authority from her to use money from the sale of shares for his own purpose. Defective-Sergeant Ritchie stated that accused had been interviewed in Auckland when he said he had used the money for his own purpose. He had been living beyond his means and had spent all the money and when interviewed had only 5/- in his possession. The approximate amount of dividends received by accused was about £2OO. Accused was remanded to the Supreme Court for sentence. No application for bail was made.