THE DEPERDUSSIN FRAUD.

Stratford Evening Post, Volume XXXVI, Issue 82, 11 August 1913, Page 3

THE DEPERDUSSIN FRAUD.

ACCUSED’S EXPLANATION. [By Electric Telegraph—Copyright] [UNITEb UrESbAsSOCUTION.] ' Paris, August 10. It is announced that Deperduesin explained to the magistrates How he deluded the hank when in financial difficulties. In 1902 he submitted a scheme for buying silk for cash and selling it to leading Parisian houses on credit. The profit whs’ nevfer below 12 per cent., of which lie .pAid 8 per cent to the bank. He became intoxicated with success, and turned to dishonest means. He speculated colossally, and gaihed the bank’s confidence. He lulled the bank by paying a share if the, interest out of' the advances. Ho the money in sporting and aviation enterprises, and had not seen a yard of silk for years. . 'ri;