A BANKING SWINDLE.
GREATEST ON RECORD. POLICE DISCOVERIES. By Telegraph.—Press Assn.—Copyttgbr. New York, August 27. The Chicago police regard the bank swindle, organised by a gang under Wothington and Charles French, as the greatest on record. Papers seized disclosed a plan to establish a great international bank, operating in the United States, Canada, Australia, and England, with a capital of £100,000,000. and it was intended to handle great mining and automobile interests.
The police found 30,000,000 dollars’ worth of stocks, .bonds, notes and other securities, sojne good, some bad. These include 9.000.000 dollars worth of securities discovered in the safety deposit vault at Cleveland, and obtained from 27 firms on the strength of glowing prospectuses, promising to erect rubber factories. The gang secured immense sales of stock, but ..the factories never eventuated. , -
Albert Roberts, a bond salesman, committed suicide to prevent his arrest -in connection with the swindle.
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Taranaki Daily News, 30 August 1921, Page 7
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148A BANKING SWINDLE. Taranaki Daily News, 30 August 1921, Page 7
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