Tweet
No place like home for life savings
By STEPHEN DOWNIE
24apr02
THE company secretary who allegedly stole $21 million from Allan Scott's business empire is a chronic gambler who would place bets of $200,000, a court heard yesterday.
Craig Telford, 39, of Mt Gambier, applied for bail but was remanded in custody when he appeared in the Adelaide Magistrates Court.
Mr Telford, who at this stage has been charged with one count of larceny by a servant involving $3 million, did not enter a plea.
The court heard that further charges would be laid and the total of the offending allegedly totalled $21 million.
Peter Kerin, for Mr Telford, said all of the money stolen from K & S Corp was paid to bookmakers.
He asked that Mr Telford, who was handcuffed and unshaven, be released from custody so he could seek urgent help for his "serious disease".
"Whilst there may be no excuse for this offence there may be a very good reason," Mr Kerin said.
"Gambling is a very serious disease but it can be treated with counselling. He has a strong desire to cure this disease immediately.
"He wants to explain all this to his (three) children but not in a remand environment."
But Peter Brebner, prosecuting, said the best way to stop Mr Telford gambling was to remand him in custody.
Inquiries were continuing and there was a chance Mr Telford would impede the investigation, Mr Brebner said.
One of Mr Telford's jobs at K & S Corp was to pay the company's accounts, he said.
"He's charged with the theft of $3 million from his employer but that is only a representative charge which culminated in a course of conduct resulting in 21 separate thefts over 18 months totalling just under $21 million," Mr Brebner said.
"He was the company secretary for K & S Corp, which has an annual turnover of hundreds of millions of dollars.
"The company paid some of its creditors and did all of its banking over the internet," he said.
Mr Brebner said Mr Telford would pay money into his bookmaker's account instead of paying creditors.
Some of his winnings were sent to banks in New Zealand and Singapore, he said.
Mr Kerin argued that because the money was electronically transferred it could be traced and it was very unlikely Mr Telford could impede the investigation.
"All funds misappropriated were paid to bookmakers, none to his personal bank account," Mr Kerin said.
"All funds misappropriated were paid to bookmakers, none to his personal bank account," Mr Kerin said.
"It's impossible for him to impede the investigation because an exam.
By STEPHEN DOWNIE
24apr02
THE company secretary who allegedly stole $21 million from Allan Scott's business empire is a chronic gambler who would place bets of $200,000, a court heard yesterday.
Craig Telford, 39, of Mt Gambier, applied for bail but was remanded in custody when he appeared in the Adelaide Magistrates Court.
Mr Telford, who at this stage has been charged with one count of larceny by a servant involving $3 million, did not enter a plea.
The court heard that further charges would be laid and the total of the offending allegedly totalled $21 million.
Peter Kerin, for Mr Telford, said all of the money stolen from K & S Corp was paid to bookmakers.
He asked that Mr Telford, who was handcuffed and unshaven, be released from custody so he could seek urgent help for his "serious disease".
"Whilst there may be no excuse for this offence there may be a very good reason," Mr Kerin said.
"Gambling is a very serious disease but it can be treated with counselling. He has a strong desire to cure this disease immediately.
"He wants to explain all this to his (three) children but not in a remand environment."
But Peter Brebner, prosecuting, said the best way to stop Mr Telford gambling was to remand him in custody.
Inquiries were continuing and there was a chance Mr Telford would impede the investigation, Mr Brebner said.
One of Mr Telford's jobs at K & S Corp was to pay the company's accounts, he said.
"He's charged with the theft of $3 million from his employer but that is only a representative charge which culminated in a course of conduct resulting in 21 separate thefts over 18 months totalling just under $21 million," Mr Brebner said.
"He was the company secretary for K & S Corp, which has an annual turnover of hundreds of millions of dollars.
"The company paid some of its creditors and did all of its banking over the internet," he said.
Mr Brebner said Mr Telford would pay money into his bookmaker's account instead of paying creditors.
Some of his winnings were sent to banks in New Zealand and Singapore, he said.
Mr Kerin argued that because the money was electronically transferred it could be traced and it was very unlikely Mr Telford could impede the investigation.
"All funds misappropriated were paid to bookmakers, none to his personal bank account," Mr Kerin said.
"All funds misappropriated were paid to bookmakers, none to his personal bank account," Mr Kerin said.
"It's impossible for him to impede the investigation because an exam.
Comment