A GIGANTIC SWINDLE.
2S ; OCO SHAREHOLDERS ifeRAUDED. '
PROMOTERS NEXT SEVERAL MIL-
LION DOUEARS..,
fUnited Press Association—Copyright,, i Received, June 16, 9.-50 pin. ■NEW YORK. June 15. -Christophea- Wilson, President of the United Wireless Telegraph Company, and Bogart, vice-Presidant, have been arrested in New York for defrauding the investors. Wilson was bailed for 25.000 dollars, and Bogart, for 10,000 dollars.
The company was ostensibly a combine of all wireless concerns, including the Marconi-dc Forest systems. The shareholders were informed that the patents were worth a million sterling, whereas they wer£ really worth £4203. The company estimated its stock at a billion. dollars, whereas it was £80,000. 23,000 shareholders were defrauded, and the promoters nettei several million dollars. . !"
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Bibliographic details
Wanganui Chronicle, Volume L, Issue 12539, 17 June 1910, Page 5
Word Count
116A GIGANTIC SWINDLE. Wanganui Chronicle, Volume L, Issue 12539, 17 June 1910, Page 5
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