GLASGOW SENSATION.
BUSINESS MEN ARRESTED ALLEGED FRAUDULENT SCHEME. LARGE SUM INVOLVED. United Press Assn. —Elec. Tel. Copyright. LONDON, Feb. 17. A sensation was caused in Glasgow when it became known that 13 business men had been arrested in connection with tire affairs of Scottish Amalgamated Silks, Limited, a company with a capital of £2,000,000 which is in liquidation. Business on ihe Glasgow Stock Exchange came practically to a standstill while the news was discussed. Relatives and friends of the arrested men rushed to the police station to which they had been taken. There they were permitted to have brief interviews. The accused men are expected to- appear at the Police Court to-day. One of the defendants is charged with having originated a fraudulent scheme with others by means of which a sum of £438,000 was subscribed by the public. That sum, it is alleged, was appropriated to their own use.
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Bibliographic details
Waikato Times, Volume 109, Issue 18256, 18 February 1931, Page 7
Word Count
150GLASGOW SENSATION. Waikato Times, Volume 109, Issue 18256, 18 February 1931, Page 7
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