Evening star., 1924-11-24
FRAUD OF MILLIONS
CHARGED IN ARREST
Leo Koretz, Held in Halifax,
Accused of Biggest SWindle
in History.
MAY REACH $1,000, ,0OC
Accused Set Up as Country Gentle.
man After Flight From
Chicago.
MAY REACH S7,000,00(
D. ,ha aAs.on;etad prasS

BY the Associated Press.
HALIFAX, Nova Scotia, November "A.
Leo Kortsz. alleged $4,000, 900 land froud
swindler of Chicago, for whom
world wide search has been conduct
ed for more than a year, is In the
hands of the law.
He has waived extradition and will
be taken back to Chicago by two
assistant States attorneys, who ar
rested him in hotel here last night.
According to the police, koretz stole
away from Chicago with the loot or a
gigantic mail fraud in a hand satchel.
Invited to Preach.
No one here thought to connect the
thin. smooth-faced koretz with the
bearded gentleman Of evident wealth,
who purchased Pinehurst. a country
home and spent a small fortune in
renovatine it. For he gave his name
as Lou Keyte. and he seemed inter-
ested chiefly in collecting rare books
and furniture. He was regarded as
a man Of culture, and even invited to
deliver a sermon.
When arrested he seemed stunned
by the realization that he had been
discovered. Quickly recovering, how
ever, he said. "All right, boys, / won't
make any trouble"
The attorneys refuse to divulge how
his disguise had been penetrated.
Since last March he has lived in
Nova Scotia. He paid $4,000 for
Pinehurst. and has since made addi-
tions to the exten of $4,000. He
represented himself as man of
wealth who has recently suffered
severe illness He wore a full beard.
which he explained as necessary,
owing to an infection of the teeth
and jaw
Popular by Wealth.
With his evident wealth. his gen.
erosity and interest in the country, he
at once became popular.
He made frequent visits to Halifax.
where he became member of the
Nova Scotia Yacht Squadron. and his
entertainments were always on a law
ish scale
When informed in the hotel by Off
GERS that he was under arrest. Koretz
said, "All right boys, you'll have no
trouble with me-"
He admitted. the officers said, that
he was the man described in circu-
lar as Leo koretZ, wanted for a two
million-dollar fraud in Chicago. and
for whose arrest $4,000 reward was
offered. At the Jail he waived ex-
tradition and announced himself ready
to return at once to face the charges.
List OF Swindles.
The specific charge upon which the
extradition warrant for the arrest was
sworn out was that allegedly of de-
frauding by use of the confidence
game" Samuel ]. Richman of Chicago.
to the extent of $3S,400. The Chicago
attorneys. speaking of other charges
against the prisoner, said one of his
alleged exploits was to defraud a dim
ing car steward of $4,000. his life
savings. He is said to have headed
at various times the Bayano Syndicate,
the Bayano River Trust Company and
the Bayano River Timber Syndicate,
with offices in Chicago and New York.
The reward for his arrest was
offered by the Chicago Title and
Trust Co, trustees in bankruptcy,
but the identity of the person to
whom it will be paid could not be
ascertained.
Koretz was last seen, according to
the circular. in the ST. Regis Hotel,
New York, December fast. He was
indicted in Chicago for using the
mails to defraud and since that time
has been the object of a worldwide
search.
According to the Chicago attor-
neyS, GOretZ was married in chicago
and his wife, it was alleged. was left
in ignorance of his whereabouts and
in want when he made his flight
with the $2,000.000.
CHICAGO, November 24.-State's At
torney Robert E. Grove announced
last night that Leo Koretz, sought
for a year in connection with a
$4,000, 900 land swindle, had been ar
rested in Halifax. n. S. Assistant
States Attorney John A. Sbarbaro and
Patrick McSwiggen of the Chicago
Detective Bureau, made the arrest.
Koretz, a broker, who maintained
luxurious offices in a downtown build
ing and at a fashionable hotel, dis
appeared early last December after
having induced many wealthy friends
and relatives to invest In his Bayano
land development scheme.
Many persons gave money to him
without question, but to satisfy the
more credulous he financed a COM
mittee of six in making a trip to
Panama to inspect the prospective
oil fields. The six, Emil Kitzinger,
Henry A. Klein. Edwin Mayer. Will
liam Smith, Harold Boysen and
Continued on Page 2, Column -