New-York tribune., 1920-11-06
PriclxenHeld ON
of 500
Stock Swiindle
Ex Convict l.
Accused Of Selling Shares
i'll Corporations OH a
Ccl.Rich-Quick Pledge
s [ ), 400 Larceny l. Alleged
by One Man; Prisoner
Admits Two jail Terms

Adolph Prckel, forty-five years old.
charged with grand larceny in con-
nection with Il stock transaction,
alleged to involve the theft Of S15, 400
vas arraigned in the Adams Street
Court, Brooklyn, yesterday and ad-
mltted that he had served two terms
IN state prisons, one in the Eastern
fenitentiary of Pennsylvania, the Sec
ond time at Sing Sing
Pricken, president Of the Coastwise
Warehouse. Inc. Of Brooklyn, is said
10 nave accumulated more than ST.
100000 from financial operations which
ne promoted after he had been re-
leased from Sing Sing, whittier he had
been sent for four years and five
months for the theft Of perfumery
from Park e. Tilford.
In 1905 Prcken admitted he was
convicted OF swindling an EMPLOYER in
Philadelphia of $4,000 and was sent
ehced TO touc years and five months in
the state prison there.
Prlcken asserted that he had made
restitution in full to Park & Tilford
As for the Philadelphia Indebtedness
ne SAID negotiations for restitution are
now IN progress.
Complainant Charges Swindle
Thomas Fynes, Of 379 Washington
Street, Brooklyn, caused Pricken's ar
rest yesterday. Fynes declared that
he had invested $l5 400 in the Prickeu
enterprises and he alleged that he had
been sWndled out of the money.
District Attorney Lewis of Kings
County said that after Pricken was dis
charged from Sing Sing four years AGO
he organized the Coastwise Ware
houses, Inc, and the organization of
subsidiary companies followed. These
were known as the Thirty-fourth
Street Stores, Inc; the Charlton Street
Stores, Inc, and tnc Jane Street Stores.
Inc
Stock was sold in these corpora
tions and the District Attorney alleges
that Prcken offered dividends that
went as high as 30 per cent. 1t is as
serted the stock sales amounts to moro
than $500,O00. The prosecution de-
clares that the paper in these concerns
was worthless, and that the investors in
TIE alleged worthless stock are scat
tered over the United States
Pricken Denies Promises
Peter P. Smitn, counsel for Pricken.
however, declares that his client made
10 such promises. He asserts that IN
vcstors were tod that if the stock did
not yield l per cent interest monthly
Hricken agreed to buy it back at par,
and this he had always been ready
to DO
Smith said that Pricken has gone
to work as a longshoreman when he
was released from Sirg Sing, and while
thus engaged saw the vast poss Utilities
in the warehouse enterprise The at
torney said it was true that Pricken
had become a millionaire and that
testimony will show that he has made
every dollar honestly.
In August, 1919, Pricken gained wide
publicity when he testified in the Fed
eral District Court that three account
ants and an internal revenue inspector
had offered to falslfy a tax return OF
the Pricken company, and that he had
reported it to the Collector of Internal
Revenue.
On this occasion Pricken admitted
that he was of German birth and a
subject Of the Kaiser. Despite this
his property was not molested by the
Alien Property Custodian and Prick
ems revelations with regard to the
tax conspiracy were regarded as a
singular manifestation of loyalty to
the interests of the American govern
ment