PRECOCIOUS SWINDLER.

New Zealand Herald, Volume XLVI, Issue 14235, 4 December 1909, Page 2 (Supplement)

PRECOCIOUS SWINDLER.

NUMEROUS FRAUDS.

STARTLING FINANCIAL INGENUITY A ni'DDixG financier in the person of John Carmody, aged 19, pleaded guilty at the Old Bailey to a series of frauds of a truly startling character. Mr. Muir, who prosecuted, stated what was very obvious, tnat he was exceedingly precocious for his age.

Carmody began his remarkable career as a junior clerk in a stockbroker's office in the city about two years ago, immediately after leaving school, and showed such ability that within a short time he was made a ledger clerk.

He then pretended he had a very rich uncle, who was willing to do stockbroking business with the firm. His circumstantial tale was believed, and in time he drew £60 for commissions.

By a series of events, however, the firm discovered that prisoner's rich uncle was a myth, and closed the account with a loss of £300. Meanwhile, prisoner absconded from the office.

' His next adventurr was early this year, when he opened an office on Ludgate Hill and issued broadcast a series of most elaborate, circulars of the usual bucket-shop type. He traded under the. style of the AngloAmerican Exchange, Ltd., which he represented was able to guarantee very large profits to depositors. On the faith of his specious representations he obtained £66 from an Irish lady. After running this swindle for some time he disappeared, and opened another office in Creed Lane.

Here, ui.der the style of Lloyd McGregor and Co., he pretended to carry on the business of a stockbroker and moneylender. He offered to lend the public money without security upon a curious basis. If people deposited £1 in the business they would lie entitled to overdrafts to the extent of from £10 to £100 at any time. A large number of persons, extraordinary as it might seem, were, on this representation, induced to send prisoner postal orders, which he cashed in a false name at Brixton.

When this closed down he began even more impudent operations. He actually induced, not only brokers on the Stock Exchange, but also outside brokers, to carry on stock transactions for him without any deposits. Next he. obtained clothing by means of false cheques, and when inquiries were made at his lodgings was found to have left with a story that he was going abroad. His last adventure was to represent himself as a solicitor at the Grosvcnor Hotel, where, under, representations that a rich uncle in Australia had left him a legacy of £1200, he attempted to obtain two sums of £14 10s. and £7 10s from two gentlemen.

On behalf of Carmody Mr. Turrell pleaded that he had not actually been alone in the frauds, but had been made a '' tool" of by older- persons. Mr. Mnir said that no other persons could be found, and added that, in addition to the frauds mentioned, prisoner had opened a banking account in the. personality of a retired police officer. The. Recorder, remarking that prisoner had carried out his frauds with great cunning and skill, passed sentence of nine months.