FINANCIAL SMASH.
"BOSTON FINANCE WIZARD." , By Telegraph.—Press Assn.—Copyright. New York, August 12. Charles Ponzi, the millionaire' known fls the Boston financial wizard, was arrested to-day, charged with having used the mailß for the purposes of fraud. It also is alleged that he is unable to redeem notes. Received August 13, 7.15 p.m. New York, August 12. Ponzi is credited with making £2,000,000 by exchange Ejaculations; which were Interwoven with the Hanover Trust Company, whose doors are closed. All visible assets are alleged to have disappeared, and the company owes £1,000,000. It iS estimated'that Ponzi's liabilities amount to 7,000,000 dollars, but he claims that his personal assets will meet these.
Great crowds hover round Ponzi's office, pressing their claims.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 14 August 1920, Page VII
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120FINANCIAL SMASH. Taranaki Daily News, 14 August 1920, Page VII
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