MILLIONAIRE'S SMASH.
NET LOSS OF £5,000,000. By Telemp!).—Press Assn.—Copyright. New York, August 14. Investigations are proving wide ramifications of the Ponzi bußinesß. The net losses it is estimated will possibly |be as high as £5,000,000. Several leading officials of the Ponzi company have been arrested. Huge crowds continue clamouring in the vicinity of the Offices of the involved companies. A crowd stormed the offices of the Old Colony Company, demanding the lynching of the president, whom the police spirited away. Other officials fled, the crowd pursuing them. The Polish Industrial Association, whoßo business is hopelessly involved with Ponri's affairs, has been compelled to close. It is owing several millions to small holders. A remarkable feature is that Ponzi obtained the bulk of the money after the officials began investigation of his methods. Bondsmen, who bailed him for £SOOO, later surrendered him to the authorities, apparently fearing his flight. —Reuter Service.
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Taranaki Daily News, 17 August 1920, Page 5
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150MILLIONAIRE'S SMASH. Taranaki Daily News, 17 August 1920, Page 5
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