FRAUDS BY BROKERS

Greymouth Evening Star, 14 November 1930, Page 7

FRAUDS BY BROKERS

WEALTHY MEN GO TO GAOL [BY CABLE —PRESS ASSN. COPYRIGHT.] VANCOUVER, November 13. Dishonest brokers, who last year robbed the Canadian public of millions sterling in a great saturnalia of stock market gambling, are being sentenced to the penitentiary in an official clean-up of the brokerage business, which is now sweeping the Dominion. To-day, Isaac Solloway and Harvey Mills, partners, finally abandoned their appeal and started serving their sentences. An examination of their books shows that they profited to the extent of £8,000,000, and probably have £5,000,000 still safely sequestered in banks. They have paid fines of £150,000, and about £3,000,000 has been repaid to ruined customers who were able to prove direct losses. TORON 10, September 13.

Eight brokers were given individual sentences ranging from two to three years’ imprisonment, totalling 21 years, by Justice Jeffrey in the Assizes to-day. Appeals have been entered, with the exception of two cases. The proceedings followed the trials on various charges of conspiring to defraud the public, of members of five large Toronto mining brokerage houses, against whom a prosecution was instigated by the Ontario Government last winter.