DEFRAUDING INVESTORS
iA WIRELESS COMBINE. PROMOTERS STEAL MILLIONS. By Gable—Press Association—Copyright Received June 16, 9.50 p.m. New York, June 10. Christopher Wilson, president of the United Wireless Telegraph Company, and Bogart, vice-president, were arrested in New York for defrauding investors. Wilson was bailed out for 25,000 dollars, and Bogart for 10,000 dollars. The company was formed ostensibly to combine all wireless concerns, including the Marconi and De Forest systems. Shareholders were informed that the patents were worth a million sterling. Really, they were worth but £4200. The company estimated the stock at a billion dollars. The real value was £BO,OOO sterling. Twenty-eight thousand shareholders were defrauded. The promoters netted several million dollars.
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Bibliographic details
Taranaki Daily News, Volume LIII, Issue 58, 17 June 1910, Page 5
Word Count
112DEFRAUDING INVESTORS Taranaki Daily News, Volume LIII, Issue 58, 17 June 1910, Page 5
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