IN THE COURTS.

Waimate Daily Advertiser, Volume XXIII, 23 May 1922, Page 3

IN THE COURTS.

CASE FOR PROSECUTOR. HORSE RACING AND ALLEGED FRAUD. By Elecric Telegraph—copyright. WELLINGTON, May 22. At a meeting of creditors of James Fraser, restaurant-keeper, his statement showed that unsecured creditors had claims for £3336, and secured creditors £225, while the assets, including furniture and cash in hand, were estimated at £55 3. The bankrupt attributed his failure to loss of business after the Theatre Royal closed down, and the opening of new

restaurants. He was questioned as to a numbe of valueless cheques alleged to have oeen issued by him, and admitted tnat he knew these cheques would not be met. ~ A racehorse leased by him was said to have won £lO9O since September, but when asked what became of the money Fraser said that a racehorse could not be run for nothing. He denied making a statement

that he had £250 in gold stowed He admitted that he had told one crditor that he had £3OOO locked up in Government bonds, and could not get the money, which was not correc . One creditor suggested that bankrupt had spent his creditors’ money on horse-racing instead of giving his attention to business. Fraser was asked why he had not more to show for the gocd years of the restaurants during the war. He stated that he had been losing money on Is meals in 1918, and had to Increase to Is

6d and afterwards to Is 9d. The Official Assignee said that he thought the bankrupt came under the penal clause of the Act by acting under false pretences right through, making false statements and giving valueless cheques. As a matter of fact he was bankrupt in 1916 on his own statement. He should have closed up then. The case should go before the Crown Law Office for further proceedings.

It was then moved that all papers should be handed to the Crown Prosecutor to institute proceedings, and the motion was carried unanimously.