Word: anjopa
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...reward last week. Having admitted gift-loans of $1,400,000 that collapsed his Home National Bank (TiME, Dec. 24, 1956), Rose, 51, heard a New York federal judge sentence him to five years in jail for misapplication of bank funds. President Joseph Di Candia of the nearby Anjopa Paper Co., who invested part of $958,000 in loans from Rose in wine, women and song, was sentenced to three years for his part in the deal. Mrs. Celia Hoffman and Mrs. Anna Schandler, two sisters who put every cent of $333,000 from Rose into their struggling hotel...
...TIME, Dec. 24), and his Home National Bank was closed by the Federal Deposit Insurance Corp. Last week Ellenville gulped again as the FDIC sifted through the remains of Home National (capital: $807,000). To settle Rose's gift-loan of $958,000 to the nearby Anjopa Paper Co., the FDIC agreed on a $396,000 installment-plan repayment. FDIC had no other choice; Anjopa's total worth is only...
...pocket, the bank's stockholders angrily flared up as well at the delighted reaction of Anjopa President Joseph Di Candia (also under indictment for conspiracy with Rose). "I am a happy man today," cried Di Candia, and promptly guaranteed a bright future for friendly ex-Banker Rose, who is now driving a truck while awaiting trial next month. Promised Di Candia: "When Bill Rose's troubles are over, I'll offer him half interest in the paper mill-for nothing. I will never forget Bill Rose for what...
...confessed: he had been manipulating the bank funds, holding up payments on incoming checks to tide over a couple of wobbly depositors. Rose resigned, saying he had done it all for Ellenville. One of the doubtful ac counts was a nearby hotel named Zeiger's, the other, the Anjopa Paper Co., in neighboring Napanoch, headed by Joseph Di Candia. Rose had poured thousands of dollars into the old broken-down paper mill, handled all its finances personally, rebuilt it into an apparently profitable concern. Once when Di Candia was picked up in Ellenville on a charge of passing...
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