South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-12-21
PRINCE OF FRENCH
SWINDLERS NABBED
AFamous Swindler Operates
Upon Get-Rich-Quick
Desire Of POpulace.

DtelIt Oh OpuldCC'
NEW YORK. Dec. 2o.-stu TO I
merit the title OF the prince q
syvlndIers-' at the age OF q Is a.
least a tribute 20 ability - even II /
Dbl .sdirected-but the vast scale on
which Marie Reynaud's opcraR 0ns
are conducted, and the unbroken +
success with which he has carrie 4 Z
them into execution. put this French :
decimal shark almost beyond COM (
petition at the head o. his tribe
I'hroughout his life Renaud has
seemed 20 hud II as simple 20 at
tract francs from the pockets Of
French small investors as a magnet
collects 20 Il AL the steel filings
within range. He has had temper
airy lapses Of inactivity-when the
Jaw has been able 20 hold him with
in its clutches for brief periods
but these Interruptions have not Sc
riO71s.y anterfered with the even
tenor OF his way toward acquiring
without work. some 40 milliol
francs from the earnings OF Othar
people.
Reynaud may be regarded as the
supreme "bluner" OF France. lie
has always known how TO make use
Of his aristocratic. distingue appear
ance. supplemented By all the acces-
series OF the prosperous Cor pre-
tendedly prosperous) business man
ln the shape OF palatial mansions,
luxurious lim0usiucs, lavish man
uer Or living. 90 create the feeling
Of confidence that he was making
huge profits. ON the strength Of
this display" NE was able 20 In
duce investors 10 believe that he
really could obtain for them the eX-
,ravagant rates Of interest which he
offered as return on their capital.
lie knew there were thousands OF
people with the get-rich-qUick de-
are which he himself possessed 50
overwhelmingly but who did not
have his advantage or knowing how
20 do il. Undertaking not merely
10 show them how It could be done
but 20 do il for them. ne certainly
showed how easy was It's accom-
plishment. but as 1t was with their
savings they did not exactly appre-
ciate the lesson None the less.
despite the exposure which follow
ed the first great coup. Reynaud al
ways found fresh thousands OF
PORES. as they are known In France,
whenever he renewed his efforts
Got on Rapidly.
Actually the only serious difficulty
this tuggler with other peoples mil
lions encountered was TO get a start.
Nobody quite knows. even now. how
ne set up his first imposing estab-
lishment. although il is so years
ago. 10 is known that he belonged
10 an Auvergne family. irreproach-
a bic in its record. and owned the
small chateau Of Sailhans. in the vi
cinlty OF Saint Flour. That. IL is
understood. was all he did own. and
IL IS obvious that It was not at all
I'm keeping with his grandiose ideas.
Il was equally obvious 20 Reynaud
thai the place where ne would be
most likely % remedy this state
OF things was Paris. SO 90 Paris
ne fastened shortly after the
Franco Prussian war He was then
in his twenties. The scarcity Of his
worldly possessions Is indicated in the
clogs and put up az the pothouse."
None the less. he got on his feet
somewhat rapidly for three years
later the banker" Marie Raynaud
had n princely residence ia the
swagger Avenue du Bots de Boulogne
and was known 10 everybody in
Paris as the enormously rich direc-
tor OF the Bank OF State"
Two years later the bank col
lapsed as any bank will that is all
outgoings and little incomings The
banker" was condemned. but
lodged an appeal and. with a talent
that he afterward developed into
his principal Safeguard. not only
obtained his acquittal. but got him
SELF dazzlingly whitewashed by the
chamber OF commerce of the Seine.
This dazzle" was enough 20 set him
on his feet again. and his system"
prospered 50 wen that i'm 1859 he
was able TO offer himself for election
20 the chamber OF deputies as re-
preventative OF his native constitu-
ency OF saint Flour. Although fail
ing at this first attempt. he succeed
ed the year afterward. his opponent
having obligingly died in the inter
val. But around came the inevi-
table crash" and while the court
was busy coudemning him to 10
years imprisonment he had packed
zap his tents and silently stolen
away
Promised Fabulous Interest.
Next he was heard Of ia Brus-
sells He let himself be well heard
81 from there. proclaiming for the
benefit of t!morous Partisan in
vCstors that ne was remaining for
good Nobody suspected his guild
ing hand. therefore. when in 1901
opened In the Rue Lanite. Paris. the
international credit. which promised.
with great eclat. the pleasant rate
OK interest Of 500 percent Along
rolled the PORES. and though the in
terest showed a regrettabIe tardi-
ness nobody pressed for payment
tn the customary bust arrived IN
1914 Then 10 was that ReynaUd s
connection was disclosed But the
depositors. shamed by their own
Cunnbihty. declined 10 lay plants and
Reynaud lef. In provisional liberty.
concealed himself .n London. after
informing the newspapers that he
had fed 90 the Transvaal When
discovered. he proved as difficult 20
eXtradite as ne had been previous
ly 90 convict
when eventually hauled into
court for bankruptcy 20 the amount
~ Of million francs IL was thought
he was securely held. but again his
talent procured liberty and a re-
start which led 20 further bank
ing operations. this time 20 ending
IN sentence % SIX -nnths. imnrLson-