GILLESPIE CASE.

Taranaki Herald, Volume LXII, Issue 144328, 17 February 1914, Page 2

GILLESPIE CASE.

TRUST MONEYS NOT LOST. SENTENCE OF TWO YEARS IMPOSED. FEB PEES* ASSOCIATION. WELLINGTON, Feb. 17. Oliver Noel Gillespie, a solicitor who was committed from Palmerston North on seven charges of theft of trust moneys, came up for sentence before tho Chief Justice to-day. Arthur OJark, of the firm of dark and Menzies, auditors, gave evidence that his firm had been investigating the business affairs of accused. The position was that there might be a surplus in the trust account. Other securities had been discovered which did not affect the trust account and these would realise a fairly largo sum. Accused had lent out trust money without any security, in some cases without interest. The deficiency in tho trust account was practically nil. His Honour: Is there any chance of the people who gave the trust moneys to him getting repaid? Witpeas; A very considerable chance. His Honour: Will they get paid in full?

Witness: It all depends upon how the estate is realised. In reply to other questions witness said be did not think accused had spent more than he (had actually earned. He would not like to say that the people who gave Gillespie trust moneys would get 20s in the £; they would get a very considerable sum, anything from fifteen shillings upwards.

His Honour said prisoner's case was unique. He had not benefited by the money. The whole business seemed to have been beyond Gillespie’s management or control, and he appeared to have kept the books in a great muddle. At the. same time prisoner know the law and that he had no right to divert trust moneys from their legitimate channels. The Chief Justice added that he did not propose to pass a heavy sentence. Gillespie had come back voluntarily to New Zealand and by his assistance a considerable sum of money had been recovered. He would bel sentenced to two years’ imprisonment ■with hard labour.