A FRENCH CAUSE CELEBRE

Dominion, Volume 8, Issue 2386, 16 February 1915, Page 6

A FRENCH CAUSE CELEBRE

THE DEPERDUSSIN FRAUDS. Paris, February 14. . Deperdussin. the aeroplane manufacturer, who is charged with obtaining money by fraud, has been committed for trial. [Tho arrest, in August, 1913, of M. Deperdussin, aeroplane manufacturer and silk broker, on a charge cf fraudulently borrowing mor • from the Comptoir Industrials connection with his business as a silk broker, caused a great sensation in Franco. The total liabilities of M. Deperdussin were said to amount to £1,500,000. Under examination accused said he had spent tho money on aviation. He had refused a large sum to sell his secrets to Germany. The French Army possesses many Deperdussin machines, and strenuous efforts were made to prevent the stoppago of the works. These were later taken over by the DelauneyBelleville 00. Deperdussin explained I to the Magistrates how he had de-1 luded the bank when in financial difficulties in 1902. He hpd submitted a scheme for buying silk for cash and selling it to leading Parisian houses on credit. His profit was never below 12 per cent., and he paid 8 per cent, to the bank. He became intoxicated with his success, and turned to dishonest means. Speculating colossally, ho gained the bank's confidence, and lulled its suspicions by paying a share of the interest out of the advances. He spent t'he money. on sporting and aviation enterprises, and had not seen a yard of silk for years.]