BANKER CHARGED

New Zealand Herald, Volume LXX, Issue 21467, 15 April 1933, Page 9

BANKER CHARGED

SECOND INDICTMENT MADE ALLEGED TAX EVASION (Received April 14, 6.35 p.m.) NEW YORK. April 13 Mr., Charles Mitchell, former chairman of the board of the National City Bank, was indicted a second time today on a charge of evading the payment of income taxes totalling 156,000 dollars (£'31,000 at par) for 1930. The indictment alleges that Mitchell claimed a loss on a stock sale of 759,000 dollars which was not genuine, it being disclosed that five months after the sale he repurchased the stock at a prico which was virtually tho same as tho sale figure. Mitchell was arrested on March 21 on a warrant issued by the Federal Government charging him with wilfully evading payment of income tax totalling 657,132 dollars on an income of 2,823,000 dollars in 1929. The action followed a request from the Department of Justice, Washington, for an immediate prosecution. It is understood that speed is necessary as the Statute of Limitations on one count in the case would apply in about three weeks. Investigations made subsequent to Mitchell's testimony beforo the committee of the Senate revealed the fact that tho relative to whom he sold bank stocks was his wife.