New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-04
ACCUSED Of CONSPIRACY
Lawyer, 1t Is Said, Bought Up
Mortgages illegally.
FIVE OTHERS IMPLICATED
One Woman Awaits Extradiction
from Jersey City-Two Men
and Two Women Wanted.

Jacob spiro. a lawyer of No 1sc Nassau
street, was arrested yesterday and held in
$1,000 bail on an Indictment charging him
and five others with conspiracy The po-
lice were looking last night for Irving w
RosenthaI. another lawyer. one OF the Al
legged conspirators. Mrs. Lulu Banford.
alias Mrs Lulu Spiro, of No. $50 Barrow
street. Jersey City. third defendant is
under arrest in that city awaiting extrad1-
ton
The police expect to arrest the other al
legged conspirators. two women and another
man, within the next twenty-four hours
The six of them will be tried on the charge
of conspiring to interfere with the fore
closure of mortgages on real estate in this
city By obtaining possession of the prop
erty about TO be forecIosed and blocking ef-
forts of the mortgage to effect sale of the
property.
Both Rosentllal and Spiro at the time the
indictments were reported were awaiting
trial on charges of forgery growing out OF
similar transa ctions, in which the indict-
ments were reported during the latter part
of former District Attorney Jerome's adj
minfstration Charles s Whitman and
his partner were their counsel at that time.
Spiro said yesterday that his position
sUrance companies TO drive him out of the
business of buying up mortgages He also
said that Mr. Du Vivier, an Assistant Dis
trict Attorney, who presented hts case TO
the grand jury. had threatened to put him
in jail if he did not give up his business,
thereby. Spiro alleged, giving supper. 10
the companies who, he charged, were con-
spring against him.
According to the statements Of Mr.. Du
Vivier. Spiro. Rosenthal. Mrs. Banford and
the other three defendants co-operated in
obtaining possession of properties upon
which mortgages were about to be fore
closed. Spiro. it is alleged. would negotiate
with the owner and obtain transfer Of the
deed of the property to one of the women
defendants. paving the owner sum in eK-
cess of what he would probably obtain at
forced sale.
When the mortgages would then try TO
foreclose the mortgage he would discover
that only Spiro knew the new owner s
whereabouts. Inasmuch as the title would
be somewhat clouded for seven years IL no.
tice of sale were published instead Of be-
ing served personally upon the owner. thc
mortgage would. IL is alleged. usually pay
Spiro whatever amount was demanded for
the personal service upon the owner.
1t IS further alleged that If the mort
gagee hesitated in accepting the demands
of Spiro. he would be confronted with the
probability that the holder of chat
tel mortgage upon gas fixtures, bath tubs.
radiators, etc. would remove these chattels.
which generally brought about acceptance
by the mortgage of the high price for
settlement. fixed by the alleged conspirators
All of the acts of the conspirators, IL was
pointed out by the District Attorneys office
yesterday, were legal if performed individ-
ualIy by them. The crime with which the
three men and three women are charged
lies in the fact that they are alleged To
have conspired to commit the acts in ques-
ton. During the year, Mr. Du Vivier said
a score Of cases similar to the one upon
which the last indictment is based, have
come to his notice. The amount obtained by
the alleged conspirators, he said, would rur
into thousands Of dollars.