CONSPIRACY TO DEFRAUD

Evening Star, Issue 21570, 16 November 1933, Page 11

CONSPIRACY TO DEFRAUD

HARMAN FOUND GUILTY THE PRINCIPAL AGTDR IN CASE Press Association—By Telegraph—Copyright. LONDON, November 15. (Received November 16, at 12.25 p.m.) Mr Justice Macnaghten, in a fivehour summing up in the Harman case, described as moonshine the suggestion that there was a contract on April 13, 1931, with Japanese companies to take 75,000 Chosen shares. It passed to the farcical when Harman, as chairman of the Japanese companies, agreed with himself as chairman of the British Bank for Foreign Trade, for the latter to buy those shares from the Harman group. It was inoperative as a. contract. Harman was clearly the principal actor. Pounds and Changeat took little part in the proceedings and said they were really dummies, but a man accepting a directorate had no right to be a dummy. The jury found Harman guilty on all counts, Conigrave guilty on twenty counts of conspiracy and misapplication of funds, but recommended leniency as he was seriously influenced by Harman. The jury found both Pounds and Changeat not guilty. Harman was sentenced to eighteen months in the second division. Conigrave was sentenced to six months in the second division, and Pounds and Changeat were discharged. [The financier, Martin Coles Harman, who was declared bankrupt in January with liabilities amounting to £605,544 and assets to £10,636, was in February arrested and charged with conspiracy to defraud in connection with a Korean syndicate styled the Chosen Corporation. '■H. H. Pounds, B. F. Conigrave, and E. G. Changeat, also financiers, were similarly charged. Harman, who was originally a junior clerk, rose to control companies with capital of £14,000,000. He was uncrowned king of Lundy Island, which ho purchased for £1,600 and greatly improved. He issued his own coinage and stamps until they were declared illegal.] /