A BIG SWINDLE.

Rangitikei Advocate and Manawatu Argus, Volume XXXI, Issue 8750, 26 February 1907, Page 1

A BIG SWINDLE.

An audacious series of frauds has been perpetrated ia London by which more than £IO,OOO has been obtained by two men. The frauds were in connection with deliveries of antimony ore—an extremely scarce and precious metal, the supply of which is controlled by a handful of people.' Early in the year two men of good appearance, apparently foreigners, made their appearance in London. They took'two suites of offices- one in the Wool Exchange and the other in a large block of offices off Bishopsgate. On the door of one office they had painted the same name as that of a well-known shipping firm, and on the other office the title of a Spanish shipping and insurance firm. On the strength of their knowledge of the antimony business they obtained an introduction to several important firms, including a firm of colonial merchants. So plausible was their manner and so excellent were the references relating to themselves which they exchanged between their two offices that confidence was soon established.

They stated that a vessel laden with antimony ore was lying in a Spanish port, and they were prepared to part with 400 tons of this cargo at “ bargain prices.” It is the custom in this business to pay cash on production of bills of lading, and these they produced. Every detail on the bills of lading and ship’s papers were complete, and there wore no fewer than fourteen signatures to attest their authenticity. Recently everything was complete, and one of the partners in the fraud was paid £7200 in notes and cash on giving up the bills of lading, while other smaller coups were brough t off. On being paid this sum £3600 was instantly taken by one man to a firm of bankers, who were instructed to cable a credit for that amount to a Paris bank, where it was quickly drawn out by the other man, who had left for France the day before. The ship they spoke of is unknown at Lloyd’s, and is believed to exist only in the fertile imagination of the swindlers.