The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-08-11
|PONZI LAYS BARE
|LIFE'S HISTORY
Admits Serving Terms in the
Montreal and Atlanta
Penitentiaries.
NOT POSING AS HERO

Boston, Aug ii.--sensation followed
sensation In the Ponzi case TODAY.
Charles PonEi, who recently jumped into
notoriety as spectacular fnancier. nd
mittcd that hid was the Charles PonsI
who served terms OF imprisonment IN
Montreal and SAtlants some years ago.
AT the moment that he was making a
formal confession OF his past, tho Ham
over Trust company, IN which pon1i
was director. was closed by Bank
Sommissionsr Joseph G. Allen, Mi Al
zen declared that tho reports OF hts
agents indicated that the bank was
uoihE business in an unsafe manner
Ionzi resigned from the directorate of
tho bank this attefnoon,
Ponki said In hls statement today
that he took the blame for another
person IN Montreal, Ho also insisted
thnt he was Etill solvent and could nay
al notes now outstanding against him
IN his formal statement prepared In
conference with his attorneys he said .
several years ago i committed n sin,
II ! made a mistake and paid for II,
had every reason to believe that society
owed me pnother chance,
Charles w, Morse Mt one time
prominont banker, was also convicted
IN United states coutrs and sentenced
70 nfteen years In Atlanta, Ga. / know,
because ] was there with him. He has
been now occupying for years n post
ton still greater than before. He IL n
banker today and deals with the United
states government and associates with
tho most respectable men In the United
States,
Y do not mean .in any way TO imnly
that he In notdeservlng respect Of the
public, but merely ask u ho Ia deserv-
ing why should't | beg
II feel that II Is also very important
although \ am the man who was con-
victed of forgery and sentenced for that
crime ut Montreal, am not the man
who perpetrated the crime what II
occurring today 10 me happened then
In Montreal. the only difference being
nloyer.
"a man APPARENTLY friendly 10 him
suggested that he leave Canada. the
object OF tho man being 70 appropriate
during his absence all the asets left by
the fugitive banker. In order to be,
an accounting, he compelled him to-
forge certain instruments which he was
going TO hold MS n club over his head
I was present at the transaction,
when Il doveloped later that the
man could not gain. possession Of the
prompted him to demand the return of
my employer under extradition pro-
oeedlngs on. charge OF forgery from
Mexico TO Montreal,
:" felt INDIGNANT as any Other man
and | decided that ! would save my
employer regardless Of the cost or
When he was brought
to Montreal, I exonerated him by as
aunlng nil the blame. and 10 this day
do not know what has happened toI
II am not trying 10 pose nm a hero.
but riEht In this city there are two
men who were working for the same
man and can hear witnesz that this isl
"The aiIuslon made by me IN previous
Interviews with reporters that ! went
10 Canada 10 carry on nm inveatiga
tion for the Italian government IL very
lmmatorial although II could explain
certain way u conveniently served also
HE. purpose OF completing said inveati-
alton.
"My next unforunnte incident did
not come Of my own volitlon, but hap
nened ms consequence o. my ,,..r ilrsl
,ut friend aud without dollar or
I tried TO earn living the
pest could. within ten days OF my
release was asked 10 escort Ave ftnl. |
APPS into The United states, ! dld not
sniuggle them In. | crossed the border |
N tho train openly and was placed Inn
nedintely under arrest, Il
81 didn't dodge the consequences and |
Head guilty. expected lonlency In |
iiew of the fact that the crime was
,niy n miedemennor. In fact, ] didn't
'eslst n conviction and yet ! was sent
need 10 two years In federal prison N
tianth, Ga and my sentence was
maximum ever imposed for similar
'ffrnse.
"There isn't much more 10 he said
rhe public knows Aha facts. Whether
worthy Of their confidence Ia a matter
or the people to decide, Az ! said be-
ore. stunned and paid for u, When
he time came, made a clean breast
4 u. Is this enough"