Word: herzfeld
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Dates: during 1950-1959
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...eight-count indictment against Schlesinger, Manhattan District Attorney Frank Hogan charged that Schlesinger had used his mother's name and the reputation of his employers, the investment banking firm of Glore, Forgan & Co., to swindle three prominent businessmen in an oil scheme. The victims: brothers Richard and John Herzfeld, who were part owners of Milwaukee's Boston Store until it sold out to the Federated Department Stores chain (TIME, Dec. 20, 1948), and Robert P. McCulloch. former Milwaukeean who is now president of McCulloch Motors, which grosses $40 million a year making power saws, superchargers and plane parts...
...Business. Schlesinger, whose job was to drum up new business for Glore, Forgan, first presented his scheme to Raymond Newman, a financial adviser for the Herzfeld brothers and McCulloch. during a visit to Milwaukee to see his father (his mother renounced all claims to the custody of her son when she divorced his father in 1920, and a trust of upwards of $300,000 was set up and later turned over to the lad). Schlesinger said that his mother had put $500,000 in a "hush-hush" Louisiana oilfield. As recounted in the indictment, he said that "Mrs. Harrison Williams...