WELL-KNOWN CANADIANS SENTENCED.

Shannon News, 14 November 1924, Page 3

WELL-KNOWN CANADIANS SENTENCED.

£240,000 IN FINES. TORONTO, Oct. 24. . The highest fines ever imposed in a Canadian Court, accompanied by sentences of terms in the penitentiary, fell to the lot of two leading citizens who were convicted Of grait against their own Government. Peter Smith, who was Provincial Treasurer in the Drury Ontario Government two years ago, anil Aemilius Jervis were sentenced to three years’ imprisonment and fined £120,000 each. The payment of this huge amount will break Smith, hut Jervis will have something left, for he is a millionaire several times over. Jervis is one of Canada’s leading yachtsmen, and entertained the Prince of Wales several years ago. He is the head of the largest firm of bond dealers in the Dominion. The jury decided that he marketed Government of Ontario bonds worth £2,000,000, obtaining am illegal “rakeoff” of 8 per cent, besides the ordinary commission. It was shown that he divided" the money with Smith, who gave him an order on behalf of the Government. Smith took this

loot to the bank and placed it in his savings account. The case is the most notable one of its kind in the history of the Dominion.