Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-08-12
CHARLES PDNzI
AN EX-CONVlCT
IS 0NFEss|0N
Admits Serving Two Terms
in Penitentiaries; in One
Case He Took the Blame
for Another Person.


10y MORNING. Jouss-L SPECIAL LEASED wiRsi
Boston. Mass, Aus. 11.-Sensa-
ton followed sensation in the Ponzi
case today. Charles Ponzi, who re-
Gently jumped into notoriety as a
speculator, admitted he was the
Charles Pon2i who served terms of
Imprisonment in Montreal and At
lanta some years ago. AT the mo-
ment he was making 4 formal con-
fession of his past, the Hanover
Trust company, in which Ponzi was
director, was closed by Bank
Commissioner Joseph c. Allen, who
declared that reports of his agents
indicated the bank was doing busi-
ness in an unsafe manner. Punzi
resigned from the directorate this
afternoon.
The admission of Ponzi and the
closing Of the trust company were
quickly associated in the minds of
hundreds who had given their
money to Ponzi for investment and
who had been waiting anxiously for
developments. A crowd gathered
in front of the Hanover Trust COM
pany.
Ponzi, who organized the Securi- |
ties Exchange company and took
in millions for investment from
thousands of clients, said in a |
statement today that he took the |
blame for another person in Mont
real. He also insisted he was still |
solvent and could pay all notes now |
against him.
His Formal Statement.
In his formal statement he said: /
THE statement | am about TO /
make should have been made be- I
fore, in view Of the fact of the no.
toriety of the press, Several years
ago | committed sin. II I mace
a mistake and paid for it. | had |
every reason to believe that society
owed me another chance.
II am not the first one to have
committed a sin. When | see others1
who were under the same situation
years ago and now today occupy
prominent positions / do not seeJ
why | should become the object of /
persecution on the part of the au-
Lhorities, press and the public.
Charles w. Morse, at one time
4 prominent banker, was also con-
'icted in United States courts and
sentenced TO fifteen years in At
ANITA, Ga. | know because I was
here with him. He was released
after serving very small part Of
his sentence, He has been now
for years a position still
greater than before.
II do not mean in any way to
IMPLY that he is not deserving of
aspect of the public. but | merely
tsk, If he is deserving why should
lot / be?
Montreal records show that a [
nan of my description was con-
'fcted of forgery in 1908 and SEN
enced for three years to st. Vim
cent De Paul and served about
wenty months.
Convicted Wrong Man.
Il feel that ii is very important
or the people 10 know that al
hough / am the man who was
convicted and sentenced for that
rhine, | am not the man who per-
,etrated the crime. What is oc-
today to me happened then I
n Montreal, the only difference
icing the object Of persecution
vas my employer.
"A man apparently friendly to
.im suggested that he leave Can
ida, the object of the man being
o appropriate during his absence
IL the assets left by the fugitive's
'anker. In order to be sure hei
haa 90 40.
ccounting, he compelled him to
orge certain instruments which he
7as going to hold as a club over
lis head. ! was present at the
When it developed later that II
he man could not gain possession o
I the assets. revenge or other mo- o
yes prompted him to demand the
eturn of my employer under ex- :
proceedings on charge +
forgery, from Mexico TO Mont
cal.
Il felt indignant as any other II
ian would feel under the circum- /
-anees and / decided that | would
i've my employer regardless of
ost or consequences When he 6
as brought to Montreal / exon "
rated him by assuming all the
lame. liz
THE alluson made by me to d.
eDorters that l went to Canada to Il
lrry on an investigation for the N
allan government is immaterial, G
though l could explain why I as lie
imed q name. n
Smuggle Italians. lei
MY next unfortunate incident II
ID not come of my own volitien,
at happened as a consequence of W
" first mistake. Released from te
'ison without a friend, and with al
1t dollar. | tried to earn a liv- CT
g the best / could. Within ten OF
ays / was asked to escort five ga
alians into the United States. ItoI
d not smuggle them in. crossed 81
Ie border openly and was placed =.
under arrest. vi
II didn't dodge the consequences III
I'd pleaded guilty. ! expected /,
I didn't resist q convic- u
on and yet was sentenced to two !.
'ars in federal prison in Atlanta, 10 10
A., and my sentence was maxi Ia
UNI. -
CAS- said before sinned and
lid for it. When the time came s.