GET-RICH-QUICK SCHEMER.
PONZI'S RISE AND FALL. MILLIONAIRE IN GAOL. (By I'al.lc—rrcss Asso.-UUlon.—Copyrig-ht.i i Received 10.:10 a.m.) NEW YORK. August 15. Investigation is proving the wide ramifications of the Ponzl business. The net losses are estimated possibly as high as £5.000,000. Several leading" officials ottile Poiui Company were arrested. Huge crowds continue to clamour in the vicinity of the offices of the involved companies. A crowd stormed Die offices of the Old Colony Co.. remanding the lynching of the president, whom the police spirited away. Other officials fled, the crowd pursuing them. The Polish Industrial Association, whose business is hopeless!v involved in Pon/.rs affairs, was compelled io close, 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 £5000 later surrendered him to the authorities, appar ently fearing his Might— (Renter.)
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Auckland Star, Volume LI, Issue 195, 16 August 1920, Page 5
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151GET-RICH-QUICK SCHEMER. Auckland Star, Volume LI, Issue 195, 16 August 1920, Page 5
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