SEQUEL IN EMBEZZLEMENT
(Received 13th November, 2 p.m.)
FLINT (Mich.), 12th November.
Ten employees of the Union Industrial Bank have been charged with embezzling cash and securities valued at 3,592,000 dollars during the past few months. This is believed to constitute the largest embezzlement in the history of the United States. It is alleged that they used the money and securities to speculate just before the market crashed. The money was lost, but the securities have been recovered. The bank's president deposited over two million dollars of his private fortune to guarantee customers.
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Evening Post, Volume CVIII, Issue 117, 13 November 1929, Page 11
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93SEQUEL IN EMBEZZLEMENT Evening Post, Volume CVIII, Issue 117, 13 November 1929, Page 11
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