£200,000 FRAUDS.

Wairarapa Age, Volume XXXII, Issue 10019, 15 April 1910, Page 3

£200,000 FRAUDS.

ASTOUNDING DISCLOSURES. PHANTOM MANSIONS. Following on the suicids of February 15th, at the Bolborn Baths, London, of Mr George Franklin, a Southampton builder and land speculator, has come the ditclosure of an amazing series of frauds. The details as yet are sparse, but it is expected that it will eventually be found that Franklin had swindled Southampton and district nf something like £200,000. In recent years Franklin had operated largely on the local property market. In Southampton, Eastleigh, Portsmouth, and other placas he bought land and built houses. Then he would obtain first mortgages on the buildings with several persons. all but the first being, of course, on forged deeds. On one batch of property he secured no less than aire first mortgages. His operations were widespread, and scores of families are ruined. Up to three or four years ogo Franklin waa managing clerk for a prominent firm of Southampton solicitors. When his father, a builder and contractor of Portswood, died he took on the financial Dart oF the business, leaving the practical side to his brother Wiiliam. It was while he was engaged in this business that the extensive series of frauds now discovered were committed. Success crowned his early efforts, and soon ha was living in style with hw wife and family at Portswond, a pleasant suburb ot Southampton. He entered public life, and no one was better known or more generally liked in Southampton than George (Frank-

.As chairman of the South Stoneham Rural District Council he was a justice of the peace, and, to quote the panegyric of a frend, "a most humane man." An earnest churchman, his voice was to be heard every Sunday in the well-ordered choir of St. Denys Church, and, altogether, he was the model of what a prosperous. good natured citizen should be. S And all thi3 tima ha was defrauding people in every direction. He sold houses to unfortunate folic whose small savings ail went into his pocket—and tfiey|then found that the freehold they had purchased was not freehold at all. He forired leases, and he built phantom mansions on imaginary land. \ In one case he purchased a large j plot of building land at Abden Park, Portswood. This was laid out. and eventually houses built upon it. Almost Before they were finished Franklin obtained firjt mortgages - on the houses. On these Franklin regularly paid live per cent. At the same time he took out other first mortgages on the same properties, forging the deeds, it is alleged. This went on until in several cases nine "first mortgages" were in existence on the same building.™ Another time he borrowed £SOO on a piece of land, and then built two houses on it, ancf which he sold as freehold to two persons. YOUNG COUPLE'S RUINED HOPES. One man who has been defrauded altogether of £7,000 advanced £1,200 on supposed first mortgages on certain houses in Eastleigh. He has now learnt that five other msn claim to have lent money on first mortgages on the same property. He also advanced £3OO each on first mortgages on 14 plots in Portswood, with the same result. One prominent hotel proprietor in the town became suspicious of the safety of the £4,000 he had invested with Franklin. He called upon him and bluntly voiced his suspicions. I "If you doubt my word," said Franklin, "meet me here to-morrow ' Booming with your own solicitor, at.d j I will produce the deeds to satisfy j you." |

The meeting took place aa arrange 3. Tiae deeds were produced—all forgeries —and on the strength oj. them the publican parted with , together £3,000. To-day he is £7,000 the poorer. An employee of the 'Southampton I Docks, who had £BOO save;) up, threw up his berth —an excellent one —and handed the mone/ over to] Franklin on the promise that it would be sate'y invested in publichouse property. There is not one penny left. The cruellest case is that of a young man and his fiancee, who, with upwards o£ £SOO to start iham in life, bought a nor.-exjstent house i from Franklin. They are now in the, | depths of despair.

The final crash wag indirectly brought about oy a builder, who had b?en extensively employed by ] Franklin. Tradesmen who had been supplying the b'lilder with materials j began pressing for payment. The money for these accounts had al- \ ready been handed over to Frank- j lin. The builder thereupon issued a writ, and Franklin, in desperation, went to a friend, ana said ha must have £IOO to tide over the weeks' wages, "Very well," said the friend, "I'll buy £IOO worth of bricks from you only you must secure favourable terms as a quid pro quo!" "Agreed," said Frankli.v, and "Trie cheque was immediately banded over, Franklin lost no time in cashing it, Meanwhile his friend sen l ; tin cart 1 ? tip to the brickfield, only to find that what bricits were there l had already been sold to somebody else, and paid for. But Franklin had come to the end: of his resources. Harassed on all sides by creditors, he, to the surprise of everyone, endeavour.d to borrow money to pay interest on the iosnf. He was uriauls to do so, and tenants i !of houses in May field Read, Ports- . j wood, had notices from several par- j ; ties tost the rent was to bu paid to i no one but tfee writers, These latter j j | were the various mortgagees. InquirI les ware in ad a of solicitors, ar.d first one person appeared with needs, then another, and yet aether. Finally., Franklin said tr.at bis only chancy of tiding over the difiicslty lay wiSb "a friend" in Lot;don. .He caught the London express, and the next that was-heard o:; iiim was his suicide. . The only legac/ i;e lafc was a scrap of paper, oo whicn he had, scrawled, "My brain is. cracked, and lam ma-J. Bury in? in London." Then the lawyers of the town called a meeting. Nearly ever.yon .' present held securities on behalf of clients to which FrankUn ind b'-'.vti a party. A committee of investigation was appointed. The shock is fell; wtrh cruel severity in Southampton.