PRINCES SPECULATIONS.

New Zealand Herald, Volume XLIV, Issue 13390, 19 January 1907, Page 2 (Supplement)

PRINCES SPECULATIONS.

ARREST OF PARIS FINANCIER

A parts: financier, M. Simeoni de Fleres, and his accountant, named Dixmier, have been arrested on a charge of fraud, at the instance of Prince Frederick Charles von Hoheulohe, nephew of the former Chancellor of the German Empire.

The Prince, who lives in the Champs Elysees, alleges that lie lias been defrauded of nearly £20,000 by spurious Stork Exchange transactions. Last year he received numerous circulars from Fleres suggesting investments, recommending especially the purchase of the stock of a. Pekin syndicate. The Prime instructed him to buy. it being understood that Fleres was simply an agent or broker, who would buy the desired scrip in London, it not being quoted on the Paris Bourse. Fleres told his client that he dealt with London houses named Williams, Frank, and (Mover. .According to the Prince's statement no actual transaction took place between Fleres and recognised London brokers, Fleres being simply represented in London by a, clerk. From time to time accounts were rendered, which were always disastrous to the Prince, who lost throughout. When he closed his account, in January List year, the Prince had already paid .vei- £4000 in cash. He then gave bills of exchange for some £7000, and signed promissory notes for the remainder of his indebtedness. He honoured some of the bills, and then learned that no business had been done In- Fleres with English houses at all. Believing himself to have been duped he lodged a complaint. He had the books of the financier examined, when, it is alleged, no trace could Be found of the payment to London houses of the sums received by Fleres in his capacity of agent. Amongst other aristocratic clients of Fleres are the Marquis de Casteja, who is said, to have lost £40.000; Prince Orloff ami the Marquis de Ganay, who are losers to the extent of several thousand pounds each. Fleres. who i.» an Italian, with acquaintances in the fashionable -world, has been a familiar figure in theatrical circles. It was a charge laid by him against M. Marc Lapierre, director of the " Cocarde,"' that led to the arrest of the latter.