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SCANDAL IN FLORIDA.

LAND DEALERS' FRAUDS. SERIOUS INDICTMENTS. A. and N.Z. WASHINGTON. Aug. 20. Two important announcements have been made in connection with the bursting of the land.boom in. Florida, in which millions were made and lost. A Federal authority states that 42 persons have been .indicted and charged with using the mails'for the purpose. of defrauding ..various men. They sold lands in Florida from * which several million dollars were realised, and they foisted worthless tracts upon purchasers. Post Office inspectors spent a year in investigating. the conditions involved in. the promotion of the towns of Fullord and Arcadia Gardens. ' The second announcement, is that two wealthy.American families were the promoters of the defunct Florananda Colony, which was designed for the exclusive use of affluent. Americans and members of European Royal", families. _„The promoters have agreed , to the . stq<?k-; holders from their a. sequel to the collapse. ol ihe ...project,, which has entailed, losses >which, .are .estimated at more than £6.000,000,..v . . i

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https://paperspast.natlib.govt.nz/newspapers/NZH19260823.2.66

Bibliographic details

New Zealand Herald, Volume LXIII, Issue 19413, 23 August 1926, Page 9

Word Count
162

SCANDAL IN FLORIDA. New Zealand Herald, Volume LXIII, Issue 19413, 23 August 1926, Page 9

SCANDAL IN FLORIDA. New Zealand Herald, Volume LXIII, Issue 19413, 23 August 1926, Page 9