A BOSTON SENSATION.

Otago Witness, Issue 3467, 24 August 1920, Page 24

A BOSTON SENSATION.

(By Cable.)

FINANCIAL "WIZARD'S" ARREST. NEW YORK, August 14.

Investigation is proving the wide ramifications of the business of Charles Pouzi, the so-called millionaire (known as the Boston financial wizard), who was recently arrested on a charge of using the mails for the purpose of fraud. The net losses are estimated at possibly as high as £5,000,000. Several leading officials of the Pouzi Company hjjve been arrested. .Huge crowds continue clamouring in the vicinity of the offices of the involved companies. A crowd stormed the offices of the Old Colony Company demanding the lynching of the company's president, whom the police spirited away. Other officials fled, the crowd pursuing them. The Polish Industrial Association, whose business was hopelessly involved in Pouzi's affairs, has been compelled to close, owing several millions sterling to small holders. A remarkable feature is that Pouzi obtained the bulk of his money after the officials began the investigation of his methods. The bondsmen, who bailed him for £SOOO, later surrendered him to the authorities, apparently fearing flight. • .