The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-02-13
HE'S BOY PONzI
Chicago Youth GambIed Away
100000 Entrusted to Him.
Defrauded Spectators Storm
His Office Demanding Money.
POLICE ON "TRAL OF GOLD"
Many Deposit Boxes May Con-
tain Missing Cash.
Claims He Was Double Crossed
by Bucket Shops.
POLICE ON TRAIL OF GOLD"

Chicago, Feb. 1S.-while Raymond
| Bischoff, "boy Spectator" was ex-
planning to Judge K. NJ. Lands what
had become of approximately $1,000
900 entrusted to him by thousands of
| families in Chicago's stockyards dis
trict, several hundred persons today
stormed his office. searching for the
| man who, they declared, had brought
| them financial ruin.
Extra police were called to control
the crowd which shouted threats
against 25-year-old lad, and it was
only when assured that Bischoff was
behind the Jail bars that it dispersed.
Such expressions as He's making
| us starve," che ruined us. let US have
hour.
Smiled Telling Story.
Smiling and without visible embar-
rassm ent, Bischoff told Judge Lands
the story Of his financial ventures,
maintaining turnout his innocence of
any Intentional wrongdoing.
loved to take a chance" he said in
reply to questions from his receivers
attorney.
while employed at a local packing
concern, 1 dabbled in the stock mar
ket: Then. when ! was about $1,000
to the good, a friend gave me $3.50
and adding an equal sum, gambled
IN stocks. We won-won big.
Dozens of friends then brought me
money to invest for them. I gambled
in stocks-mainly oil-and frequently
played absolutely fair with them.
Then l tried to obtain control of
an oil we'll in Louisiana. I put hun
dreds of thousands into it, and just
when I thought I had won, learned
had BEEN double crossed by bucket
shop stock brokers" Judge Lands
suddenly took personal charge of the
examination, shooting rapid fire ques-
| tions at Bischoff.
Judge Landis Gets Angry.
The judge then called Mr. Davis
and learned from him that Bischoff
had supplied the money for their
$4,000 home and three expensive
automobiles.
''And where'd you get that fur
Coat?'' the judge asked.
Raymond gave me the money"
was the reply.
And he got it from hundreds of
poor, hard working families whom he
swindled," bitterly shouted the judge.
That coat that keeps you so COM
Portable represents swindled money
that would have kept many a poor
child warm this winter"
After Judge Lands had asked many
questions about Bischoff's army
record, the latter objected, saying he
did not see what his army record had
to do with the case.
Perhaps there are lots of things
replied the judge. I'll decide what
Is relevant in this examinations
Judge Lands asked Bischoffs
mother II her conscience felt clear
over a 100000 building Bischoff
bought, and which was in her name.
After discussing it with her hus-
band, she replied:
at is mine legally"
Whats the legality got to do with
lit?" asked the judge. There are
lots of men doing legal things who
belong in Jail. Don't you realize that
at least eleven welfths of that build
ing belongs to people who had to sweat
blood to get the money they gave this
fellow"
Judge Lands investigation revealed
the golden trail of the mysterious mil
lions of Bischoff, 1t is believed. when
the existence of eleven safety boxes,
three apartment buildings and various
other valuable assets were found to
be in possession of the family.
Under questioning of Judge Lands,
Bischoff admitted that he was a de-
serter from the American army. and
had never been discharged from the
Canadian army"
Hunting for Singer.
Federal secret service men thruout
the United States were asked to be on
the lookout today for a cabaret singer
whose name is withheld and Mrs. E.
r. Geer in connection with the So
900, 900 bankruptcy case of Raymond
J. Bischoff, Chicagc's youthful
"Ponzi.' Court investigation of Bis
choff's financial enterprise was sched-
uled to begin today before Judge
Lands.
Mrs. Geer. who is said to be a Sis
ter of Bischoff, left for the Pacific
coast two, weeks ago. according to in
formation obtained by federal inves-
tigators. She was formerly a stem
ographer and her husband Was office
manager for Bischoff. 1t is under
stood government agents seek to ques-
ton her regarding 100000 in liberty
bonds taken by Bischoff as collateral,
which has not been located.
The cabaret singer, according to
John Augustiniak, body guard of
Bischoff, was friendly with the young
| plunger and a few weeks ago de-
manded $1,000 from him under pen
atty of telling the world what I
know about YOU The money was
paid, according to Augustiniak. on
the woman's promise that she would
leave the city.