AMAZING STORY

Taranaki Daily News, 2 September 1933, Page 15 (Supplement)

AMAZING STORY

“ORGY OF SPENDING” EXTRAORDINARY EVIDENCE. MRS. EDOLS IN WITNESS BOX. An extraordinary story of extravagance was told by Mrs. Aimee Belle Edols before the Registrar in Bankruptcy, in Sydney, recently. Bankrupt admitted that her assets, which she had previously affirmed were worth £45,000, had never existed. Among her expenses incurred during the five years before her bankruptcy were £14,000 or £20,000 on horse racing, £1250 on luncheon parties, £3OO on children’s frocks, which she gave away as presents to friends, £4OO on flowers, £4OO on jewellery, which she subsequently pawned for £2OO, £66 on a dressing-case, £29 on a handbag, £5 on a pair of men’s pyjamas, £llss on a pair of men’s socks, £1250 on car hire, £2OOO on theatre parties and £4OOO on living expenses. Her total expenditure was about £56,000. Mrs. Edols was brought from Long Bay gaol, where she had been sent by order of Mr. Justice Lukin for contempt of Court. She was accompanied by a wardress. At the conclusion of the proceedings the registrar said that bankrupt had not complied with the court’s order to give certain particulars of her expenditure incurred after her estate was sequestrated, and remanded her to her former custody. Although she had remained calm during a searching examination by the official receiver, she broke down and wept when the proceedings were adjourned. She returned to Long Bay gaol in a police car. AN'AMENDED STATEMENT. Replying to Mr. Lloyd, when giving evidence, Mrs. Edols said that she was not in the habit of keeping cheque butts any length of time. Mr. Lloyd: The receipts account shows a total of £56,518, and gives particulars of the different sources from where this money came?—Yes. From the sales of shares you received £l3,334?—Yes. You have amended your statement of accounts by omitting £45,000 which you have hitherto contended to be assets?— Yes. This is not now an asset and never has been?—No. Did not your husband ask you for some particulars as to where all his money was going?—No. You recognise to-day that you have practically had the whole of your husband’s fortune?—Yes. Did not he ask you where it was going?—l told him that I could not tell him anything about it. Was he satisfied to pay out these thousands of pounds without any inquiry?— Yes; he always trusted me. He was satisfied right up to the time you got the last shilling out of him?— Yes. His life policy was handed over to one of your creditors?—Yes. That life policy has been sold and is gone?—Yes. Did not he make any protest?—No. BANKRUPT’S LARGEST BET.

The registrar: Subsequent to your husband trying to save you, you continued to obtain money from other people. While you were obtaining these moneys did not you realise that you were simply imposing upon other - people’s credulity?—l thought I would pay them back. Mr. Lloyd referred to an item for £737 15s.

Witness said it was a racing debt and was paid through Mr. Griffin, a solicitor. Mr. . Lloyd: You were a heavy bettor. What was the largest amount you ever put on one horse? About £2OO or £3OO. I often put £lOO on a horse. You lost your credit with the bookmakers in 1931 and paid in cash? I remember losing £l3OO to R. Evans during four days’ racing. I often lost £4OO or £5OO in an afternoon. You say you paid Emerson £3OO, and a little later £lOO, for betting losses. You lost altogether £l7OO in tfour days?— Yes. In November, 1928, you lost £l5OO over a period of three or four weeks’ racing and at the spring meeting in Sydney you lost about £looo?—Yes. All that mmey came from people who had given it to you for investment?— Yes. At the winter meeting in 1929 you lost £l2OO, and continued to lose money almost up to the time of your bankruptcy?—Yes. Did you win sometimes?—Not very much. AN OLD COUPLE RUINED. You induced people to sell their homes and their bonds to enable you to carry on this huge system of betting. It was a heartless thing?—Yes. Don’t you think your treatment of the McConnells was shocking?—Yes. They came to Sydney to spend their declining years with £3OOO or £4000? I don’t know how much they had. Do you know that as a result of that treatment Mr. McConnell had to sell his home, mortgage his life policy, go back to Fiji, and live with friends? And you got his money. You told him you - were going to invest the money at 12 per cent. They have gone back to Fi]i ruined people. That is only one case, out of a number. Do you think that is a very creditable thing?-No, Mr. Lloyd. Mr Lloyd: How do you arrive at your estimate of £14,000 for racing losses? Might they not run Into £2o,ooo.—Yes. It might very easily have gone in racing. Replying to the registrar, witness said that when she absconded she went to Melbourne to see a cousin of her husband. She intended to explain her financial position to him, and seek his help. The registrar: You were going to borrow money from him to pay the other people?—l was going to ask him for help. The trip cost me £lOO. I paid £6O for the hire of the motor-car. The examination was adjourned until September 1.