BANK EMBEZZLEMENT
BIGGEST IN HISTORY OF U.S.A
.United l’ress Association—By Electric Telegraph—Copyright) (Received this day at 9.40 a.m.) NEW YORK. No,ember 12. A message from Flint, Michigan, states ten employees of the Union Industrial Bank were charged with embezzling cash and securities valued at 3,592,000 d dlars during the past few months, which is believed to constitute the largest embezzlement in the history of the United States. It is alleged they used the money and securities to speculate just before the market crashed. The money is lost but the securities were recovered.
The bank’s president has deposited over two "million dollars of a private fortune to guarantee customers.
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Hokitika Guardian, 13 November 1929, Page 5
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108BANK EMBEZZLEMENT Hokitika Guardian, 13 November 1929, Page 5
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