EXTENSIVE FRAUDS

Manawatu Standard, Volume XLVI, Issue 45, 22 January 1926, Page 7

EXTENSIVE FRAUDS

FIFTY-ONE CHARGES. BROTHERS BEFORE COURT. SENTENCES OF PENAL SERVITUDE. (By Electric Telegraph.--Copyright.) Received January 22, 9.10 a.m. mi LONDON, Jan. 21. Three brothers, Alexis, Walter and Henry Mandeville, were each awarded six years’ penal servitude on 51 charges of conspiracy to obtain large sums of money by false pretences. They pleaded guilty to twelve charges. Tho prosecution said that tho brothers, through advertisements, circulars and the newspaper Financial Mail, which Alexis edited, and in connection with which he formed a company, induced the public to buy stocks and shares.

The company in 1919 showed a loss of £50,000, but nevertheless declared a dividend of 30 per cent from money paid, by subsequent subscribers.

During tlie years 1918 to 1921 the Mandevilles received from the public £511,800, of which £31,200 was paid to the Mail company. Tho balance was misappropriated to their own use. All of the brothers maintained expensive establishments.

It was also recalled that the Mandevilles’ “bucket” shops failed in 1909, with liabilities totalling £424,000 and assets amounting to £6O.

It was impossible to say the extent to which the public wero defrauded in the present case, but £500,000 would bo a modest estimate. —Sydney Sun cable.