Ogden Standard-Examiner | 1922-03-06 | Page 6 | Does Crime Pay?

I 4- -f i Does Crime Pay? ! 1 v OMAHA-. Neb., March 6. W. . i Matthews, formerly president of the DOW defunct Pioneer State bank of Omaha, was sentenced to serve from ope to ten years in state prison today to-day by District Judge Leslie beKin whom he recently pleaded guilty to a charge of embezzling $200,009 of the bank's funds. Matthews wa indicted on tl.r counts, charging embezzlement of 1300,00.0 by a special grand Jury that investigated stock and other flnan- ial transactions. When arraigned February 20, he pleaded guilty tu On mt whtuh alleged he embez;;i'-'J , 3200,000 and the state dropped the other charges. He expressed a de- s-ire to be taken to the stale peme:i-j peme:i-j tiary at Lincoln at one o'clock this afternoon. The alleged offense, which Mathews Math-ews termed as "one of the head and not of heart.," resulted in the purchase pur-chase by the Guaranty Securities company of 'Omaha of bonds of the Colonial Timber and Coal corporation, corpora-tion, which were security for loans by the bank from the securities concern. con-cern. Mr Mathews Inalntains that land of the timber concern In West Yir-glnis Yir-glnis which secured the bonds, is valuable and thit in time may prove of sufficient value to redeem bjnds held oy ihe securities company, now det'unct. and provide, u means of clearing up the lom occasloneu bv the failure of the bank. The timber concern is Incorporated in Delaware.