PLUNDERING A PEER

New Zealand Times, Volume LI, Issue 11784, 21 March 1924, Page 6

PLUNDERING A PEER

♦ REMARKABLE ALLEGATIONS fraud and embezzlement of A LARGE SCALE. BIG SUMS INVOLVED. By Telegraph—Press Assn.—Copyright. Australian and N.Z. Cable Association. LONDON, March 19. Amazing disclosures were made at the Guildhall during the hearing of charges against Herbert Hadd, aged 59, a solicitor, of fraudulently converting to his own use the property and deeds of Lord Gerald Foley. Counsel for the prosecution stated that defendant was the subject of a receiving order, and when answering the claim he said that he was unable to state what he owed Lord Foley. HAD POWER TO SIGN. Counsel further explained that when Lord Foley attained his majority and inherited the estates, he signed a power of attorney whereby the defendant had power to sign cheques, dispose of property and securities, and withdraw moneys. While Lord Foley was absent in Italy defendant speculated disastrously, and much of Lord Foley’s property was sold, two items realising £107,000 and £169,000. Accused had also bought valuable property in Westminster, and had obtained the deeds in his own name, obtaining an overdraft thereon. BOOKS MUDDLED When the power of attorney was revoked he 6till held £158,000 assets. He had always paid Lord Foley’s money into hisown account. Defendant during the three years he was acting for Lord Foley, overspent his income to the extent of £15,000. He told the accountant that the 'hooks were muddled, and asked if they could not be “wangled.” The accountant had advised him to put all his cards on the table. Lord Foley filed proof of debts totalling £23,000. Counsel intimated that other charges relating to the properties of Lady Mary Foley and Major Mowbray were pending. Lord Gerald Foley is a son of the late Lord George Foley and Lady Mary Agar, and is now 26 years of age. He is the seventh Baron of the title, and was recently a lieutenant in the Royal Flying Corps. Lady Mary Foley, who is mentioned, is his mother.