DEFRAUDED OF £500,000
THREE BROTHERS BROUGHT TO BOOK. LONDON, Jan. 21. Three brothers, Alexis, ‘Walter and Henry Mandeville, were each awarded six years’ penal servitude, on 61 charges of conspiracy to obtain largo sums of money by false p:fc fences. They pleaded guilty to twelve charges. The prosecution said the brothers, through advertisement circulars and a newspaper, the Financial Mail, which Alexis edited and in connection with which he formed the company, induced the public to buy stock and shares ii. the company in 1919. They showed a loss of £40,000, nevertheless they declared a dividend of 30 per cent, from money paid by subsequent subscribers.
During the years 1918-21, the Mnndevilles received from the public £511,800, of which £31,200 was paid to the Mail company and the balance misappropriated to- their «>wn use. All the brothers maintained expensive establishments. It was also recalled that the Mandeviiles’ “bucket shops” failed in 1909, with liabilities totalling £424,000 and assets amounting to £6O. It is impossible to say the extent to which the public has been defrauded in the present case, but £500,000 would be a modest estimate. —Sun.
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Bibliographic details
Gisborne Times, Volume LXIV, Issue 11011, 25 January 1926, Page 5
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187DEFRAUDED OF £500,000 Gisborne Times, Volume LXIV, Issue 11011, 25 January 1926, Page 5
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