£11,500 THEFTS ADMITTED

Taranaki Daily News, 23 December 1932, Page 7

£11,500 THEFTS ADMITTED

INSURANCE COMPANY’S LOSS

EMPLOYEES TO BE SENTENCED. i- ■' ■ ' . POLICE EXPLAIN THE SYSTEM. CRIMES DURING EIGHT YEARS. By Telegraph.—Brass Association. Christchurch, Dec. 22. Two employees of the Alliance Insurance Company Limited were charged today with the theft of nearly £11,500, the property of the company. They were Clarence Alfred Palmer, aged 30, and Walter. Vernon Wiseman, aged 33. *■' The police stated "that the men had fteen in the employ of the company for 15 years.' Palmer was the cashier and Wiseman the chief clerk. It was alleged the thefts began in 1924 in a systematic fashion, accused taking as much as £2554 in one year.

The police said the system the men worked on was .that when the monthly returns were made Palmer deducted the amount of the defalcations from the total and entered the resulting figure. They kept a careful check on their thefts. In 1924 they began with £3 19s and rose to £2554 in 1931, and £1907 in 1932, till at October 31 the total sum involved, as shown by an audit, was £11,431. Accused had admitted stealing the money. . Herbert Thomas Francis, manager of the’Christchurch branch of the firm, gave evidence that for some time past premium • income had fallen away. Until October last he had' no idea of the reason. At that time he gave notice to the clients whose premiums were shown as overdue. Usually these notices went from Wiseman, but in October some went out without passing thrdugh his hands. One of the clients wrote and inquiries were then made, and accused admitted the thefts. The money was spent in paying instalments on houses, buying motorcars and furniture and in living expenses. . ' Accused pleaded guilty and were committed for sentence. Bail was allowed. ■