AMERICANS HOAXED.

Auckland Star, Volume LVII, Issue 247, 18 October 1926, Page 7

AMERICANS HOAXED.

SHREWD SWINDLER'S RUSE. EASY MADE DOLLARS. (.Keceived 10 a.m.) XEW YORK, October 17. A Pittsburgh message gives details of a sensational swindle whereby an apparently well recommended salesman succeeded' in taking 425.000 dollars cash from a group of bank officials. It is disclosed that when the Pennsylvania State Bank examiners' order closed the doors of the Brotherhood Savings and Trust Bank, one of the most important American Labour banks, and brought indictments of conspiracy and other charges against three of the officers of the institution, a salesman of business' securities is said to have approached these officials and told them he could obtain SOO.OOO dollars of Liberty bonds (a gilt edged Government security now soiling at above par) for 425,000 dollars. He told a plausible story but kept the details from the officials. He proceeded to obtain 102.000 dollars of the bank's funds through a note discounted by the institution and agumented this with other funds obtained from other parties who were induced to participate in the deal. All concerned entered a taxi, from which stepped the salesman with a satchel of money to enter the office where he'said he would sooure the bonds, but 1 he never reappeared.