£150,000 INVOLVED IN CHARGES OF FRAUD.

Star (Christchurch), Issue 18958, 2 January 1930, Page 1

£150,000 INVOLVED IN CHARGES OF FRAUD.

SENSATIONAL ARRESTS MADE IN SYDNEY. (United Press Assn.—By Electric Telegraph.—Copyright.) SYDNEY, December 31. A sensation has been caused by a raid by detectives on the offices of the Property Insurance Company, Limited, in Pitt Street., and the arrest of John Gunn, managing Director, and William J. Beckett, a director. Later they were charged with conspiring between Tanuarv 1, 1927, and December 27. 1929, to defraud members of the public. The police stated that it was believed that a sum of £150,000 w f as involved. A detective, for some w'eeks, had been engaged in investigating the formation and operations of the company, which began business in 1927 with authorised capital of £200,000. His woj-k was done so quietly that the staff was dumbfounded when their labours were suddenly interrupted by the entry of detectives and police, who took away the books and papers that they considered needful for the prosecutions’ purposes. Gunn was for many years in legas practice in Sydney. Beckett is connected with Beckett’s Newspapers A third man, Allan Fraser Howden, was also before the court in connection w r ith the same charge. All were remanded until January 6. Bail was allowed.