Ogden Standard-Examiner | 1920-08-20 | Page 1 | Receiver Named for Charles Ponzi

RECEIVER NAMED FOR CHARLES PONZI I INVESTORS WHO DREW DIVIDENDS f 11 LOSE COIN Receivers Called On to Adjust Claims Which Total About j $7,000,000 BOSTON, Aug. 20 The broken for tunes of ( harles Pnnzi wete placed in receivership by judge Morton of the district court today. d The court appointed three receivers Jt ! ho; mi si quallf In I olid "I c '" """ JM Ponzi's statement ihat assets would m 7-, aggregate JJ 000. 000 Is the only estl- IK" m.ite available. The receivers will bo rJH tailed upon to adjust claims which al- IM ready aggregate more than thai sum Wm and the total is likely to run to ST. 000.- ftfW 000, according to the estimate of Ed- win r.. Pride; federal accountant. These figures Include the 50 peri jflLI i i ni profits promised rH With the probability that settlement of claims will bo on the basis of .ir-lual .ir-lual settlement the figures will be! BB paired down by approximately one-1 M.I third The receivers also will be 1 1 - JH id upon to deride whotho" they will H proceed ngalnsf those persons to whom, sW Pons! paid the 50 i" cent profit. Ponzl asserted he paid out 9 T. 500. - j 000. Some of these payments were , refunds of actual Investments only. Accordingly the amount of mon paid out by Ponzi in Interest and sub-1 jeet to action by the receivers, should it be held that undue preference was. tflljl Riven the persons who received it. 1 would be approximately (2 "00. isBBi I The receivers are William R. Sears,; HH John Forbes Perkins and Edward A. Thurston