DRAKE TREASURE SWINDLE
MYTHICAL ESTATE OF SEA HERO. Lured by promises of fabulous returns, scores of Californians have “invested” thousands of dollars in the mythical 350,000,000 dollars estate of Sir Francis Drake, famous English navigator, who died in 1596, according to an investigation by Howard Ellis, Deputy State Corporation Commissioner. The representatives of the estate in Californiia are to be prosecuted. The estate was alleged to be a kingdom in itself, consisting of Drake Castle in Devon with 8000 acres of valuable land, as well as shipyards and docks, other valuable holdings in the British Isles, 1000 acres in Virginia, millions in the Bank of England, and land around Drake’s Bay, California, where Drake anchored. For every dollar invested, the investor w-as promised from 100 dollars to 1800 dollars in return. The “heirs” failed to move in the lawcourts, and thousands wanted to know what was being done. The matter was reported to the Corporation Commission, which received an avalanche of letters from investors.
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Bibliographic details
Hawke's Bay Tribune, Volume XVII, 27 September 1927, Page 8
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164DRAKE TREASURE SWINDLE Hawke's Bay Tribune, Volume XVII, 27 September 1927, Page 8
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