AN OIL SWINDLE

Evening Star, Issue 18810, 8 December 1924, Page 2

AN OIL SWINDLE

CHICAGO, November 26. Leo Koretz, who swindled various investors of £1,000,000 sterling, and . then disappeared, might still be free if he had exchanged his fine clothing for somebody’s overalls at the first opportunity. Koretz absconded last December with half the. proceeds of his frauds, and ton months later was pleasantly established in Halifax, living at the best clubs, and the owner of a fine estate. But ho had an inquisitive tailor, who found on the j label of his coat collar a name that was I not Korotz’s. The tailor told his banker, | who earned a £2,000 reward. Koretz will face the court in connection with the great Bayano oil swindle. In his prospectuses he described a wonderful estate in Panama. From the investments of fresh victims ho paid dividends to old ones. A committee finally insisted on personally visiting his Panama plantations, and about the lime they arrived, to find that they did not exist, Koretz faded from view, only to bo betrayed by his coat’s tell-tale label.