HUGE FRAUD ALLEGATIONS
TRIAL IN LONDON BEGINS
“SOUND ADVICE ON STOCK” SHARES IN BOGUS SCHEMES ENORMOUS SUM INVOLVED By Telegraph—Press Assn.—Copyright. Rec. 8.15 p.m. London, Dec. 1. 'Four men were in the Guildhall dock charged with a Stock Exchange fraud on .an unparalleled scale by means of the so-called Broad Street Press, Ltd.
Herbert Spellen, aged 57, a journalist, Joseph Wise, diamond merchant, Frederick Newbury, aged 68, a mining engineer, and Stanley Monchief, a clerk, were all allegedly associated in a scheme involving the publication of a financial newspaper affording “sound advice” regarding the buying of securities,- but later sending canvassers who persuaded speculators to invest money in bogus mining companies. In five months between January and June £1,600,000 passed into the two banking of the Broad Street Press.
. The prosecution stated that those who got the most money were not before the court. The evidence showed that H. Wise received £798,000 from the Broad Street Press. A man named Klein received '£298,000.
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Bibliographic details
Taranaki Daily News, 3 December 1930, Page 7
Word Count
163HUGE FRAUD ALLEGATIONS Taranaki Daily News, 3 December 1930, Page 7
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