Show j Huge Bankruptcy Scheme Reported Legitimate Concerns Defrauded Defrauded De De- De- De of Ea Each h Year Claim V NEW YORK Aug 30 AP ThC AP-ThC Th The X New W York World orld today says that legitimate business concerns in the United States are defrauded each year of ot by a new scheme of crooked bankruptcies The crooked bust as It Is known V in jr In police parlance has Its center In New v York but It Is being operated through throughout ut the country and the law cannot aid the credItors creditors creditors cred cred- the paper says says EYs The authorIties author author- ties say It Is the the most popular r ever ever known wn to commercial I I sharps V While there are re many ramifications ramifications Lions of the scheme the paper says saps the of the plan Is essentially the same sane The racketeers with money from angels angels men men who put up the small capital ne needed set needed d s set up a busi bUsi- ness A man in charge known asa as asa asa a front pucha purchases B on credit huge amounts of or merchandise merchandiser sells It to cash or o fences at from irom 30 toV V I to 50 per cent of ot Its value then hides the cash and und calmly goes Into bankruptcy Little of ot the loot Is ever recovered reco During the past year United States Attorney Buckner and the National Association n of Credit Men have been concentrating on the plan in an effort to beat it |