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Show SUSPECT FRAUD IN IDAHO DEAL Prosecutor Investigates Loss to Boise Citizens of $400,000 BOISE. Ida.. Mnr h 13. Prosecuting Prosecut-ing Attorney Elbert Delana announc-l announc-l ed last night that he was conducting an Investigation with a view to determining deter-mining whether or not a finanelal plan has resulted In the loss of nearly near-ly $400 000 to Holse residents was engineered, en-gineered, with i riminnl intent. More than 100 persons, some prominent, are said to be involved in the loSM Creditors, subsequent to meetings held recently- appealed to the prose- cutor. alleging they had lost various sums ranging from 100 in some In-. In-. stances to several thousands of dollars dol-lars In others. The plan, as outlined to the prosecutor, was similar to th it employed by Ponzl and BiSOhoft Persons with money to li.m were approached by C I l illlard. William Ground and Dewey Pearce. nil of Boise, who reported that they had ellents. who. though financially responsible, re-sponsible, were temporarily In need of funds, and because they had not established credit sufficient to enable them to borrow through the regular channels, were willing to pay high rates of Interest for Immediate accommodation. ac-commodation. The lo-m operators offered of-fered to invest the savings of the lenders and the prosecuting attorney attor-ney says, obtained large sums on their personal notes, giving in some instances in-stances a note for 25 per -'nt more than the actual amount of money advanced ad-vanced and In addition offering high rates of Interest. The trio made good on the payments until earl this month when demands for payments were met wiih excuses and delays, resulting re-sulting in some of th creditors becoming be-coming nervous. Few knew the extent to which the loans had been made until Investigations Investi-gations were begun This revealed scores of clients. The operators of the plan have admitted. Prosecuting Attorney Dolaud says, that they cannot can-not pay but Insist their motives were honest. Pllliard who is said to have been the guiding genius, has no as-i as-i -eiv according to the investigating committee, except a $200 equity In an airplane. |