SENSATION IN FINLAND

Evening Post, Volume LXXXV, Issue 27, 1 February 1913, Page 13

SENSATION IN FINLAND

BANK MANAGER'S OTGANTIC FRAUDS. Consternation has bp<>n caused in thf* Finnish financial world by what would srem to be Ihp gie-itest swindle ever perpetrated in thp commeit-ial hiftiory of rinland. Thp affair (s.ixr a Reuter mee*.aon from HeUnigfors) 'has for <ho moment eclipefd the 011-nbfiorbinir anxieU and pngonio.es with which tho developments in the political feud wilh the Rupsian Governmpiit are followed. M. Nils Idm.in. mnnngpr of the Tarnmerlon bianch of tho local Foreninps Banl«-n, was .middenlv detained a (W days ago by the polmc upon orderr 10--ceivcd from tho head offirp. and. nftor arrcet. the safe of the branch undor ldman'e charge was opened, but it w.i.« found to be empty, although U, should have contained, according to the books, securities for loans to tho amount of £42,000. ldman, it appears, had devised an ingenious scheme. When customers were granted Joans against good securities, the latter were, of cour.se, deposited in the safe; but ldman abstracted them spon afterwards and obtained loans on them en his own account from other banks. His bank will have to make g°°d all the losses, the total amount of which is stated to be somothijie between £200.000 and £500,000, including all tho drehoneefc deals with private people. Books and cheques havo been forged, and months may elapse until everything if cleared up, if this can ever be' done. The cumber of firms and wealthy private persons who have been partially or totally ruined ie stated to be about 200. An elderly -*idow v.nn Mt by her husband £40,000. ldman took over tho charge o f tho money three years ago, and has actually never given any receipts for it. So strong was the belief in him that those documents were never asked for. There is not a penny Wt for the poor woman, who i-. eighty \ears or age. and friend* have secured her a place in a home, which is nothing but a better-class workhouse. A director named Snollman. who had charge of the Kordiska Bank, tho ?econd in importance in Tammerfors. committed suicide twrv days after Idman's arrest. Though that bank ie stated to , be- untouched by tho fall of ldman. M I Snellmnn s= personal loss is reported to be £10,000. Ho had been induced to hand over to ldman securities for £4000 Iwo girl cashiers are also in custody. It is the habit of practically all the Finnish banks to employ women cashiers. The two women confessed amid tears that they had known of numerous irregularities committed by ldman. who seems to have exercised extraordinary influence over them. Even the Stale B?nk of Finland has not, escaped being dragged (in a way) uito this regrettable tangle. _ The Forenings Bank™ is a very solid institution of some 50 years' standing sii nnn a ,J nlly P aid -"P >* Im 'e capital of £1,200,000 and untouched icaerv-s amounting to about £600.000 Share? nominally worth £4, were sold lately at A/10. After the disaster they droppcj to £9, but are already on tho way back to tho level they have maintained for many years— viz., £10. «Mfc»»i ||