Word: kreugered
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...float companies devoted to ambiguous enterprises. By intermingling their affairs and complicating their books to the utmost, he was able to rob his investors fantastically. Shrewd businessmen who were directors of his London & Globe Co. believed in his infallibility as unquestioningly as did the associates of the late Ivar Kreuger and Samuel Insull. In 1903 London & Globe Co. crashed. Whitaker Wright was charged with issuing false balance sheets. So complicated was the financial maze he had built that no lawyer in England wanted the case. Rufus Isaacs agreed to prosecute it. For days he stood in Old Bailey, his eyes...
...WORLD'S GREATEST CROOKS T. B. Macaulay and Ivar Kreuger of the Sun Life of the Swedish Match...
Among other horrid, startling things the sheetlet said: "Both Macaulay and Kreuger won the confidence of their governments and then proceeded to swindle their people. They both faked their books and presented such balance sheets, padded with fictitious assets, as best suited their purposes and thus deceived those upon whom they preyed. They were both colossal liars. . . . Kreuger did not believe in an afterlife and was frank and honest about it. Macaulay . . . was a religious hypocrite and therefore differed from Kreuger in this respect only by being more contemptible and more dangerous...
...court, charged James J. Harpell who writes and published the Canadian Journal of Commerce, with criminal libel. Publisher Harpell's lawyers would not handle the case. He appeared in Court alone and shocked everybody by screaming: "The plaintiff . . . has given to Samuel and Martin Insull and Ivar Kreuger $26,000,000 of policyholders' funds. ... I am here to swear out a warrant for his arrest...
Attacks upon companies by stockholders who fear their dividends may be passed are not uncommon. Unusual in the Harpell attack was the fact that he was only a policyholder, fearful that when he died the Sun could not pay his beneficiaries. The Insull and Kreuger investments to which he referred were the Sun's holdings in Middle West Utilities bonds and International Match preferred. If the cost of these securities was $26,000,000 as abusive Mr. Harpell said, they would still represent a small fraction of Sun's total investment account which last December was carried...