SMASH IN FINANCE.
YOUTHFUL WORKER’S SCHEMES. FRIENDS LOSE THEIR MONEY By Telegraph.—Press Assn. —Copyright. Received Feb. 14, 7.25 p.m. New York, Feb. 13. A telegram from Chicago states another Ponzi (the central figure in a recent financial scandal) has been disclosed in the activities of Raymond Bischoff, a youthful stockyards worker, who collected between 4,500,000 and 7,000,000 dollars from ignorant foreigners, workers in the stockyard, for investment. Bischoff, when arrested, declared that he had originally been successful in speculation in oil, and friends and acquaintances flocked to give him money for investment, issuing personal promissory notes for the money. Then he ventured huge sums in “fake’’ ojtl companies and only 1,000,000 dollars of assets were now visible. He lived sump-tuously.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 15 February 1922, Page 5
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122SMASH IN FINANCE. Taranaki Daily News, 15 February 1922, Page 5
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