FLEECED OF A MILLION.

Star (Christchurch), Issue 17245, 11 January 1924, Page 1

FLEECED OF A MILLION.

Extensive Frauds by Alien Gang. Leader a Remarkably Clever Scoundrel By Telegraph.—Press Association.—Copyright.—Sydney " Sun '* Cable. (Received January 11, 10.5 a.m.) LONDON, January 10. Nearly every town in Lancashire and Yorkshire and the Midlands has been duped by the cotton trade confidence sang, whose frauds are far more extensive than was at first reported. The amount involved totals £1,000,000. Nearly 100 police stations are engaged taking the statements of 400 victims. Members of the gang are all aliens. Some can hardly speak English. The leader is a remarkably clever scoundrel, possessing great commercial ability. The gang opened many shops and dealt in clothing, boots, hosiery, sewing machines and other goods. It paid manufacturers cash for the first few orders, and when confidence was established, obtained credit for big orders. The gang also duped Continental firms. A message on January 7, said: —The "Daily Mail’’ reports that the Manchester police are investigating extensive frauds which victimised scores of cotton manufacturers and clothes merchants. A gang established several presumably respectable and solvent firms in various towns and opened credit accounts with Manchester firms, giving as references the names of members of the gang living in other cities. Suddenly the bogus firms disappeared, having sold out their goods and received an estimated total value of £250,000. Some firms, which were heavily victimised, are now bankrupt.