The Greeley tribune., 1908-01-02
Houu to .Sif f.Sure Things"
Crafty Swinders Who Prey Upon the Creduy
of the Laborer to Defraud Him of His
Hard Earned Savings.
BY ROBERT 3. ARMSTRONG,
Former Assistant Secretary Of the Treasury.

The cleverness and boldness with
which the up-to-date investment swim
dler plies his craft are almost incred.
ible. Wherever you find fraudulent
investment scheme you will find both
Of these elements present In some de-
grse-but the comparative proportion
Of one to the other u generally deter
ton.
For example. IL the projectors OF
scheme are old hands At the game and
have established records Of the wrong
sort. then the idea Of quick results 10
not only attractive but often impera-
tive. There are many "old offenders"
IN the profession of investment swim
dliAg who have been convicted and
have done time" in iails and peni-
tsntiAriss but have not yet learned to
prefer straight to crooked finance.
Men Of this character realize that .
''Quick getaway" 10 . cardinal essen.
tial Of success: they must complete
the transaction and get in the harvest
before there is time for the public to
wake up and do any investigating.
Consequently. boldness is the big ele-
ment In operations OF men Of this
class. And. although they may be i'm.
mensely clever. daring rather than
cunning will be the dominant char
acteristic of their scheme
The length to which the bolder spir.
its in this class will go almost sur.
passes credibility Here Is an example
Of the tricks to which they will resort
in order to create the impression OF
having the backing of men or institu.
tons Of strength and character:
Through introduction by social
| friends the local representative OF an
Investment scheme was able to open a
checking account with a banking and
trust company in big city-a COM
pany Of so high standing that it il
very widely known outside of financial
circles and among people of small
means. Its endorsement was worth
ready money" to any enterprise and
the fact was keenly appreciated by the
fiscal agents" OF the Brite & Fair
Bonanza company.
After the opening of his personal
checking account, the fiscal agent lost
no time in cultivating the acquaint
ance of the trust officer of the bank
ing institution, which did a very large
business in the discharge of trusts
One day the depositor came to this of
fcer and explained that he had a yer,
J simple little trust which he wished tc
have executed. Finding it necessar,
to leave the city for few days ht
wished to provide for the delivery O.
a sealed package, containing "valuabl,
papers, to man whose name ant
personal description was given. Tn,
person to call for the package woult
,, leave a certified check. in the amour
+ Of $1,000, which was to be placed t,
, the credit of the fiscal agent" OF til,
Brfte & Fair Bonanza company, who's,
! business connections were unknow,
! to the trust officers of the bankin,
t and trust company
J. Weeks later the trust officer was as
5 tonlshed to receive from an old per
e sonal friend, who was knocking abon
= in the west, circular of the Brite 4
}. Fair Bonanza company. in which tn,
big trust company was designated a.
E trustee" for the "B. G F." stock,
n As the friend who forwarded the c,,
!, cular knew something of the wilde,
i. nature OF the Brite e. Fair enternriso
{. his comments on the folly OF III,
s banks accepting such a trust" ha,
+, an edge on them. When the matte
!. was investigated 1t was found th,
! the whole plot had been carefully cor
cocted and worked up to; that the c,,
ouiars had been printed and nut in a,
rected envelopes ready for mailin, T.
advance OF the placing Of the so.ca1,e
Il "1ust." and that when the trust M
| eef OF the solid financial institution