SEVAN FRAUDS.
ACTION AGAINST DIRECTORS. (AtrSTBAI«rAN AJvD N.Z. CABL3 AS3OCZAnOS.) (Bccoivcd February sth, 5.30 p.m.) LONDON, February 4. An action against eight directors of the City and Equitable, arising ont of tho Bevan frauds, has commenced before Mr Justice Bonier in the ChanceryCourt. Eleven King's Counsel and many juniors are engaged in tho cat,c, which is expected to last several weeks. The defendants include Earl March, Sir Douglas Dawson, and Lord Eibblesdale, the latter, owing to a breakdown in health, appearing by his guardian. Prosecuting counsel said that the losses amounted to £2,000,000. There was no allegation of fraud against the defendants, but a director could not escape liability by merely saying, "I know nothing about insurance, and left everything to Bevan." The defendants do not seem to have known bow the money waa invested at any time.
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Bibliographic details
Press, Volume LX, Issue 17990, 6 February 1924, Page 13
Word Count
138
SEVAN FRAUDS.
Press, Volume LX, Issue 17990, 6 February 1924, Page 13
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