Chapter 31

FRAUDS BY TRUSTEES AND PERSONS IN A POSITION OF TRUST, AND FALSE ACCOUNTING.

322. Fraudulent disposal of trust property.

(1) Any person who, being a trustee of any property, destroys the property with intent to defraud, or, with intent to defraud, converts the property to any use not authorised by the trust, commits a felony and is liable to imprisonment for seven years.

(2) For the purposes of this section, the term trustee means the following persons and no others—

(a) trustees upon express trusts created by a deed, will or instrument in writing, whether for a public or private or charitable purpose;

(b) trustees appointed by or under the authority of a written law for any such purpose;

(c) persons upon whom the duties of any such trust as aforesaid devolve;

(d) executors and administrators.

323. Fraudulent offences by directors and officers of corporations or companies.

Any person who— (a) being a director or officer of a corporation or company, receives or possesses himself or herself as such of any of the property of the corporation or company otherwise than in payment of a just debt or demand, and with intent to defraud, omits either to make a full and true entry of the property in the books and accounts of the corporation or company, or to cause or direct such an entry to be made in them; or

(b) being a director, officer or member of a corporation or company, does any of the following acts with intent to defraud—

(i) destroys, alters, mutilates or falsifies any book, document, valuable security or account, which belongs to the corporation or company, or any entry in any such book, document or account, or is privy to any such act;

(ii) makes or is privy to making, any false entry in any such book, document or account; or

(iii) omits, or is privy to omitting, any material particular from any such book, document or account, commits a felony and is liable to imprisonment for seven years.

324. False statements by officials of companies.

Any person who, being a promoter, director, officer or auditor of a corporation or company, either existing or intended to be formed, makes, circulates or publishes, or concurs in making, circulating or publishing, any written statement or account which, in any material particular, is to his or her knowledge false, with intent thereby to effect any of the following purposes— (a) to deceive or to defraud any member, shareholder or creditor of the corporation or company, whether a particular person or not;

(b) to induce any person, whether a particular person or not, to become a member of, or to entrust or advance any property to, the corporation or company, or to enter into any security for its benefit, commits a felony and is liable to imprisonment for seven years.

325. Fraudulent false accounting.

Any person who, being a clerk or servant, or being employed or acting in the capacity of a clerk or servant, does any of the following acts with intent to defraud— (a) destroys, alters, mutilates or falsifies any book, document, valuable security or account which belongs to or is in the possession of his or her employer, or has been received by him or her on account of his or her employer, or any entry in any such book, document or account, or is privy to any such act;

(b) makes, or is privy to making, any false entry in any such book, document or account; or

(c) omits or is privy to omitting, any material particular from any such book, document or account, commits a felony and is liable to imprisonment for seven years.

326. False accounting by public officer.

Any person who, being an officer charged with the receipt, custody or management of any part of the public revenue or property, knowingly furnishes any false statement or return of any money or property received by him or her or entrusted to his or her care, or of any balance of money or property in his or her possession or under his or her control, commits a misdemeanour.