Show ill lill I. I J lJ LJ lEJ LJ UJ i in i lI lJ CJ PONZI U UNABLE TO TRACE RAC MISSING MILLIONS r 1 rI rr WilAnD I II I T AI I f A ASSETS T Kept Crude Books and Gave Permission Permission Pennis- Pennis sion sian to Others to Draw Drav Many Checks BOSTON DOSTON Aug 21 Charles Charles JJ Ponzi turned over to federal federal federal fed fed- eral receivers today part of what remains from the milli millions mil mu- li lions DS he received receive from investors investors investors in in- in his dl discredited financial and went on the witness stand to tell about tho the rest Little I had bad been elicited as to hi his assets however when tho the hearing was wu adjourned until Tuesday Checks and securities which Ponzi handed banded over o as announced I did not greatly exceed Edwin L. L Pride accountant who has been conducting conducting- tho the federal i audit estimated Ponzi's liabilities at Ponzi Ponzi- said h he had additional J r b bla Crude Records The only business of ot wh which ch Pride could find any trace ho testified tes tes- titled was tho the issuing of oC notes for Or the tho investment plus 50 per percent cent and pa payment ment of oC early carly notes by receipts from later ones once There was as nothing in Ponzi's books he said raid to Indicate any business in I International postal reply coupons as claimed by Ponzi i It W was brought out that D. D V V. McIsaac and D D. II 11 Coakley of oC counsel had received fees of at each l ex explained cx- cx d that tho the Hanover Trust com company pan where Ponzi kept his principal account had paid these lams nuns on from Crom Ponzi I Neglects Details replies to questions question in indicated indicated In- In Ignorance of oC the tho conduct r of oC his b business affairs He lie did not k know tho the names of ot his agents was r II not familiar with his accounts in several banks and was in doubt how many persons persona were ut or- or to draw checks In his name He Ho said he left most of ot these things I to Lucy Mel Mell U tho 18 year old manager manag r of oC his office I Counsel 1 drew from Ponzi a aI I statement of oC certain holdings not previously of ot record by tho the re receivers re- re among them 1600 shares of t the Hanover Trust company the bank which collapsed d. d Among Among- largo large payments ho he made mado ho mentioned mentioned mentioned men men- in settlement of ot the claim of or Joseph Daniels who beLuso because be be- cause Luso ho loaned Ponzi early in his hla career sued him for tor 1 as ns a a. partners partner's share Ponzi said he ho was certain ho had paid out to holders of eC matured notes or surrendered notes an nn aggregate ag ag- ag- ag of or |