A BANKRUPT AUCTIONEER.

Otago Daily Times, Issue 18859, 11 May 1923, Page 8

A BANKRUPT AUCTIONEER.

CHARGES OF FRAUD. (Per United Press Association.) AUCKLAND, May 10. A bankrupt auctioneer named Percy William Douglas pleaded not guilty before Mr Justice Herdman in the Supreme Court today to nine charges of having fraudulently converted to his'’own mo sums of money totalling £4OB 12s 3d, being the balances of the proceeds of property sold by him. In a statement to the police, said tho Crown Prosecutor, the accused admitted having received tho moneys and not having paid them to his various clients. The accused had kept no Trust Account, and admitted having used the money of ono client to pay another. At the close of the prosecution counsel fro tho defence submitted that there was no case to answer. Fraudulent action was the essence of the charge, and he contended that no evidence of intent to defraud had been produced. Tho judge overruled this contention. Counsel said that broadly the defence v.as that the accused was entirely ignorant of the responsibilities thrown upon him by tho Auctioneers Act. The position was largely tine to faulty office methods, for which the accused was not altogether to blame. The case was adjourned pending Poire Court proceedings on May 22.