MISSING "BANKER."

Taranaki Daily News, Volume LIII, Issue 324, 10 June 1911, Page 10

MISSING "BANKER."

300 VICTIMS OP ALLEGED WHOLESALE FRAUDS. Paris, April 20. A financier named Louis Rivicr, who had built up a large business in a short space of time, has disappeared from Paris, and large defalcations are feared. Some time ago Paris and the provinces were flooded by a circular, which ran: "Fortnightly interest. We guarantee you 1 per cent, a day. We are the only house-guaranteeing a fortnightly interest of 15 per cent., paid regularly. No stock exchange knowledge necessary. We do everything for you. Minimum deposit, £1; maximum, £4000.'

As a result tke post brought to the luxurious apartments of the new bank, facing the Opera. Comique, securities of all kinds. At first deposits rarely exceeded £1 in value > but when at the end of three months the clients received in interest double the amount they had paid in, the deposits were increased enormously. A few days ago the average daily receipts of the bank amounted to £4OOO, and the daily interest payments to £SO.

This extraordinary state of affairs attracted the attention of M. Hamard, chief of the police detective force, who requested M. Rivier to call to-day at his cabinet at the Surete. This morning M. Rivicr failed to arrive at his office at the customary hour, and the head cashier, in order not to delay the day's business, which promised to be particularly brisk, took the responsibility of opening his chief's sate. He was astonished to find it empty except for a piece of paper, on which he reaS: "I have been summoned by the police. This is tne second time I have been thus insulted. My health and age cannot support it any more, and I tender my resignation. The funas of the bank are in the hands of my successor, who will arrive at noon. '

M. Rivier has not been seen since he loft his house, and the successor spoken of in the note proves to be entirely mytnical. AH uay there was a sad procession of depositors o\itside the premises, and it is estimated that 3000 people have suffered losses.

It is stated that M. Rivier got rid of a large number of securities entrusted to him in London, Where he often went. His highly respectable appearance is believed to have done much to win him the confidence of intending investors. He had a large white beard, and often wore a wig. Owing' to his remarkable knowledge 'of English, the opinion is ventured that he may be of English origin.