iPhone 4 camera roll "time created" information
Time created means time transferred to your computer. It is the time when the photo landed to whichever folder you downloaded it to, on your computer.

So if you transferred the photo on Monday 1st August 2015, then that is the Date Created shown.

Try downloading an mp3 file from the internet to your computer. You will see that the Date Created is the date that the file enters your computer. While the date of its creation was (obviously) earlier.