WIRELESS COMBINE.
A ~ ■ HUGE FRAUD ALLEGED. By Telegraph—Press Association-Copyright. New York, June 16. Christopher Wilson, president of tho United Wireless Telegraph Company, and Bogart, vice-president, have been arrested in Now York on charges of defrauding investors. Wilson has been released.on bail of 25,000 dollars and Bogart on 10,000 dollars. . The'company, it is alleged, was ostensibly a combine of all existing wireless concerns, including the Marconi and do Forest systems. Shareholders were informed that the combine had patents worth £1,000,000, while they were really worth only £4200. The company estimated'the value of its stock at ono billion dollars, but it is now put down at £80,000. Twenty-, eight thousand shareholders aro said to havo been defrauded, and tho promoters netted several million dollars out of the various transactions., Mr. Mayer, Chief Post Office inspector, declares that tho United AVireless Telegraph Company was an outgrowth of the Amalgamated Wireless Securities Company, which /had no legal existence , after 1906. One promoter netted two. millions sterling.
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https://paperspast.natlib.govt.nz/newspapers/DOM19100618.2.42
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Dominion, Volume 3, Issue 846, 18 June 1910, Page 5
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162WIRELESS COMBINE. Dominion, Volume 3, Issue 846, 18 June 1910, Page 5
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