Show HUGE SWINDLING PLOT REVEALED Plan to Wreck Insurance I Company and Three I Banks Alleged CHICAGO N Nov v. v 24 UP UP States State's 5 attorneys charged today that a gang ging of swindlers plotted to plunder a life i insurance c company and gain control of oC three Indianapolis banks Vernon Thompson and ThomasI Thomas Thomas' I 1 Dodd Healy states state's attorneys claimed they had full con confessions from Hayden Hay Hay- I I 1 den Sanders former ormer Ch Chicago cago gain gam I bier and treasurer of thc the Abraham Lincoln Life LIc Insurance company of oC Springfield Ill and Otto Van Derek Derck H year old bank clerk Police throughout the middle west vest vestI I have been asked to look for Gusta Gustav Lindquist president of oC the insurance coIn company pan and former lormer state insurance commissioner ioner of oC Minnesota missing lince ince Thursday Balata Batata convict ex-convict They held Joseph lI and d confidence man Dav Davie e Barry long Jong count referee of the Tunney Dempsey fight in iii Chicago and Abraham Abra Abra- If ham Karatz attorney 1 J 1 The Abraham Lincoln Insurance c t company was merged last night with I th the Illinois Bankers' Bankers Life Assurance e ec c company of Monmouth Ill at a conference conference conference con con- ference of directors of ot both companies companies compa compa- nies hies the latter concern becoming dominant Both Lindquist and md Sanders were ousted from Crom their offices The Abraham Lin Lincoln oln Life Insurance Insurance I ence ance company has assets of and standing outstanding policies totaling 70 I i i 1 Th The states state's aU attorney said Sanders I confessed he was the tool of a l gan gang that hoped to make away with virtU virtually virtually vir vir- tU all of the company's assets Baiata Barry and Karatz already 5 were char charged ed with theft of from the Amalgamated Trust and I Savings bank of Chicago I Sanders and Van Derek Derck had not notI I been formally accused of a crime The conspiracy was made possible by the fact that the Abraham Lincoln company recently was reorganized I under a new management Sanders Sander and Lindquist were appointed at that time I Sanders confessed according to toi toS S Thompson and Hea Healy that he plotted With Karatz and others to buy a controlling controlling con trolling int interest rest in the insurance company and in the Indianapolis banks with money obtained by cashing cash cash- N ing spurious checks on the insurance company They induced Van Derek clerk in th the Amalgamated bank to toJ J help them They had agreed to pay for or the company and made madea a first pa payment After gaining control of the insurance insurance ance nce company according to Thompson Thomp Thomp- son lion and Healy Sanders and his associates asso asso- I I i. i elates clates planned to flood nood the concern j I with stolen bonds which they hoped v I. b- to buy from rom criminals at nt 10 and 15 1 cents on the dollar selling them to the C any y at face value The Indianapolis banks w were re to be used to further the stolen bond scheme Echeme The alleged plot was revealed when Van Derek Derck urged by his fiancee walked into police poUce headquarters and told as much as he knew |