BOTTOMLEY’S FINANCE.

Taranaki Daily News, 8 April 1922, Page 5

BOTTOMLEY’S FINANCE.

FURTHER CHARGES. HUGE SUMS INVOLVED. By Telegraph.—Press Assn. —Copyright. Received April 7, 8.5 p.m. London, April 6. In the Bottomley case the prosecution is bringing two further charges of fraudulently converting £6500 and £lO,OOO belonging to the war stock combination. FRENCH BANK ACCOUNT. London. March 23. During the hearing of the two fresh charges against Horatio Bottomey, M.P., in the Poice Court to-day Mr. Cohen, a solicitor, gave evidence that Bottomley asked him to negotiate the purchase of two Sunday evening newspapers. Bottomley produced £lOO.OOO worth of Victory Bonds, and told him to obtain an advance from the bankers. He thus obtained. £66,500, and later reminded Bottomley that the price of the bonds was falling. Bottomley told him to sell £70.000 worth-, which realised £57,800. and Bottomley paid in to the bank £25,000. Finally Cohen drew out the balance of the cash and gave it to Bottomley, who sent him a cheque for £1650 drawn on the Victory Bond Club. An official of the French bank, Credit Lyonnais, gave evidence that Bottomley opened a private personal account for transactions in Victory Bonds, involving hundreds of thousands of pounds. His speculations in French securities also involved hundreds of thousands. One payment in cash tallied with the amount which a stockbroker realised by the sale of £lOO,OOO worth of bonds.

In the two new charges against Mr. Horatio Bottomley, M.P., it is alleged that he took £15,000 from an account of which he was a trustee, and the purpose of which was to purchase the former German submarine Deutschland, and that he fraudulently converted to his own use £lOO,OOO represented by allotment letters from the Bank of England with respect to Victory Bonds