DISHONEST BROKERS.
CANADIAN PUBLIC ROBBED. SENTENCES OF IMPRISONMENT. , VANCOUVER. Nov. 13. The dishonest brokers who last year robbed the Canadian public of millions of pounds in a great saturnalia in stock market gambling were to-day sentenced to imprisonment as part of an official " clean up " of the brokerage business throughout the Dominiort. Isaac W. S. Solloway and Harvey Mills, who were partners in one of the worst scandals, have finally abandoned their appeals and started serving their sentences. Examination of their books shows that they profited by £8,000.000, and it is probable that they have £5,000,000 still safely sequestered in foreign banks. They have paid fines of £150,000, and about £3,000,000 has been repaid to ruined customers who were able to prove their direct losses.
Eight brokers were given individual sentences of imprisonment ranging from two to three years, totalling 21 years, by Air. Justice Jeffrey in the Assizes on Thursday. Appeals have been entered with the exception of two of the cases. Tho proceedings followed the trials, on various charges of to defraud the public, of members of five large Toronto mining brokerago houses, whose prosecution was instigated by tho Ontario Government last winter.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19301115.2.81
Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20722, 15 November 1930, Page 11
Word Count
195DISHONEST BROKERS. New Zealand Herald, Volume LXVII, Issue 20722, 15 November 1930, Page 11
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.