CHARGE WITHDRAWN.
Britannia Bank Case Sensation. SYDNEY, November 25. The Crown has entered a nolle prosequi against Philip James Mond and William Victor Cunninghame, who were charged with conspiracy to defraud per- * sons desirous of becoming shareholders in Britannia Bank, Ltd. On September 9 reference was made to the formation of the Britannia Bank, with capital of £7,000,000 and British backing, to assist in the restoration of Australian industry. Philip James Mond and Victor Cunninghame were arrested on September 19, and were charged with conspiring together to defraud the shareholders of the Ocean Investment Trust, Ltd., of large sums of money. Mond and Cunninghame are chairman of directors and director respectively of Imperial Sugar Industries, Ltd., and are the powers behind the flotation of three companies with a nominal capital aggregating more than £120,000,000, including the Britannia Bank.
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 281, 26 November 1931, Page 1
Word Count
138CHARGE WITHDRAWN. Star (Christchurch), Volume XLIV, Issue 281, 26 November 1931, Page 1
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