Invested In Shares Of Firm He Robbed

Chronicle (Levin), 12 November 1949, Page 5

Invested In Shares Of Firm He Robbed

NEW YORK, Nov. 10. A salesmaxi who took 50,000 dollars over a nujnber of years in a weil-plan-n ed swindle from his employers — Macy's Department Store — and invested it in Macy's shares and savings bank aecounts gave all the money baek when arrested. He is mild-mannered Hugh Hiekev, aged 58, who was charged t-oday with taking money in driblets from the store where he was continnously emploved for 26 years. The proseeuting fawyer told the Magistrate that Hickey wrote "fake refund requests from fake customers for non-existeiit goods returned with fake complaints.',' He sent these through the store 's pixeumatie cash tube and when the refunds came baek he pocketed them. The prosecutor alleged that Hickey obtained from 50 to 250 dollars dailv. He did not spend the money but invested it in giltedged stock — Macy's shares — and savings bank aecounts. Detpctives investigating shortages arrested Hickey when he entered one of the ba,nks to make a deposit. Meanwhile Hickey lived in a most frugal way in a eheap fiat in a drab area "saving np for his old age." Hiekev was remanded until Wednesday.