MISUSE OF FUNDS
AMERICAN BANK FAILURE
PRESIDENT CONVICTED
NEW YOBK, June 19.
Joseph Harriman; former president of the bank bearing his name, was convicted by a Federal Court of misuse of the institution's funds, which resulted in its collapse in 1933 with losses of many millions to depositors.
He was found guilty on 14 counts and- faces from five to 80 years' imprisonment.
Harriman pleaded not guilty to indictments charging the making of 14 false entries in the bank's books, the abstraction of securities amounting to 300,000 dollars in value from the bank, and the obtaining by Harriman of 300,000 dollars lent on a note to a depositor, who' turned the proceeds over to the lending department. Albert M. Austin, a vice-president of the bank, pleaded not guilty to the same indictment. Harriman made an unsuccessful attempt at suicide.
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Bibliographic details
Evening Post, Volume CXVII, Issue 145, 21 June 1934, Page 11
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139MISUSE OF FUNDS Evening Post, Volume CXVII, Issue 145, 21 June 1934, Page 11
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