GIGANTIC FRAUDS.
INTOXICATED BY SUCCESS. A PARISIAN GOES THE PACE. (Received Last Night, 5.5 o'clock.) PARIS, August 9. Depordussin, the bankrupt aviator, explained to the Magistrates how he deluded the Bank. When in financial difficulties in 1902, he submitted a scheme for buying silk for cash and Helling it to leading Parisian houses on credit. The profits were never below twelve per cent., for which he paid eight per cent to the Bank. He became intoxicated with his success*, and turned to dishonest means. He speculated in a colossal maimer, and gained the Bank's confidence. ' He: lulled the Bank by paying a share of the interest out of its advances. ; He spent the money in sporting and, aviation enterprises.. He had not seen a yard of silk for years.
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Wairarapa Age, Volume XXV, Issue 10713, 11 August 1913, Page 5
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129GIGANTIC FRAUDS. Wairarapa Age, Volume XXV, Issue 10713, 11 August 1913, Page 5
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