ALLEGED FRAUDS.
Large Scale Financial Scandal in London. STOCK EXCHANGE SENSATION. * LONDON, December 2. Pour men were , charged at the Guildhall yesterday with a Stock Exchange fraud on an unparalleled scale by means of the so-called Broad Street Press, Limited. The accused' were' Herbert Spellen, aged 57, journalist; Joseph Wise, diamond merchant; Frederick Newbury, aged 68, mining engineer; and Stanley Moncrief, clerk. All were: alleged to have been associated in a scheme involving the publication of a financial newspaper which afforded sound advice as. to the" buying of securities, but later the sending of canvassers* who persuaded speculators to invest money in bogus mining companies. In the five months between January and June £1,600,000 passed into two banking accounts of the Broad Street Press. For the prosecution it was stated that those who had,secured most of the money were not before the Court. The! evidence showed, that H. Wise had received £798,000 from the Broad Street Press and that another- man named Klein had received £298,000. .
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Bibliographic details
Auckland Star, Volume LXI, Issue 286, 3 December 1930, Page 7
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166ALLEGED FRAUDS. Auckland Star, Volume LXI, Issue 286, 3 December 1930, Page 7
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