Word: tanenzapf
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...Paris, police arrested Bernard Tanenzapf, former president of Pathe Cinema,-on charges of embezzling at least $3,660,000. Lean, black-mustached, fiftyish, Bernard Tanenzapf, who also called himself Bernard Natan, started his career somewhere in Central Europe. He arrived in Paris about 1920, organized several small but profitable cinema producing companies, bought out Pathe's founder, Charles Pathe...
...Pathe's stockholders accused its president of breaking the French law against forming dummy companies. Following year Pathe was declared bankrupt, whereupon M. Tanenzapf's connection with the company ended. Last spring Paris courts approved prosecution of M. Tanenzapf on a charge of "fraudulent creation of a fictitious majority" in Pathe stock, opened his books to a stockholders' committee, whose pryings uncovered the evidence for last fortnight's arrest...
Among the means whereby Pathe's Tanenzapf had apparently looted his company, which had $7,000,000 worth of assets in 1929, were false theatre leases, fictitious subsidiaries for manufacturing non-existent theatre equipment...
Arrested with Tanenzapf were eight of his associates, including one Alexander George Johannides, who, listed by Pathé as recipient of large payments for "inventions," told police he had never invented anything. Because of the long interval between Pathé's bankruptcy and the disclosure of its president's business technique, and because Pathé's Tanenzapf had often entertained members of the Chamber of Deputies at dinners and previews, the French press promptly scented another Stavisky scandal...
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