Seizure of Old Colony Offices as Ponzi Probe Expands
Authorities seize funds and records from the Old Colony Foreign Exchange Company amid a widening probe. Officials report arrests of President Charles M Brightwell Raymond Meyers and Charles Fred Meyers with bonds set at 50000 each. Investigators vow further arrests and asset retrieval from offices in Boston Quincy and nearby cities as grand jury action looms and bankruptcy petitions are heard.
MENTIONED IN THIS ARTICLE
Old Colony Foreign Exchange Company
Attorney General's Office
Charles M. Brightwell
Raymond Meyers
Charles Fred Meyers
Charles Street
Bennett
United States Trust Company
Niles
School Street
J. F. McCuen
Arthur H. Erwin
A. H. O'Neill
Hurwitz
Irwin
State Street
Welch
Erwin
A. H. Lawrence Company
Old Colony Foreign Exchange
Howard Donnell
Essex County
T. J. O'Brien
Lawrence
Ola Colony Foreign Exchange Company
Grand Jury
John E. Crowley
Allen
Old Colony Forign Exchange Company
Ponzi Financial
Old Colony
Foscas Exchange Company
Charles Larsen
Central Avenue
Medford
Post
Promoter Schemes Highlight Old Colony Exchange Collapse
The article details misleading promises by agents and the financial harm to many families from the Old Colony Foreign Exchange Company. It notes 700 note holders cared for, many from mill towns, who lost investments, days of work, sleep, and bus fare. Brightwell and the Meyers brothers remained jailed, with Mrs Brightwell visiting. A petition for receivership cites a $39,000 asset draw from Citizens' National Bank on August 3, the date of their arrest.
MENTIONED IN THIS ARTICLE
Hurwitz
Old Colony Foreign Exchange Company
Quincy
Jay R. Benton
Haverhill
Benton
Farrell
John F. Welch
A. H. Lawrence Co
State Street
Grace St. Pierre
Pierview Street
Beachmont
Old Colony
Brightwell
Meyers Brothers
Charles Street
Citizens’ National Bank
Hotel Chef Learns Ponzi Lesson at Young's Hotel
At Young's Hotel Louis Piggioli the chef and self styled king of the kitchen invested $1000 with Charles Ponzi. After Ponzi gave a $1509 check and the Hanover Trust closed, the deposit was returned and the hotel staff witnessed a shift from awe to laughter as the kitchen's ruler faced a setback.
MENTIONED IN THIS ARTICLE
Young
Charles Ponzi
Louis Piggioli
Young's
Louis
Italy
Hanover Trust
Grandmother Saved Life With Dr True Elixir
An elderly Roxbury woman credits Dr True Elixir for reviving her dying grandmother after a race against time. The ad touts Dr True's Elixir as a family laxative and worm expeller with 68 years of reputation and urges readers to ask local dealers for the remedy.
MENTIONED IN THIS ARTICLE
Roxbury
Mast
Roxboary
Rue
Norma
True
Also Mentioned on This Page
Custom House
Dublin
Ft. In
A.W. Jones CO
Chauncy Street
Cnp. Hovey
Chauncy St
Cutioura Ae Ee Apse
Malden
Mass
ERMAN
Wildcat
Probe Lawrence Office
O14 Colony Foreign Exchange Company
A&m
Robbins & Myers
Robbins & Myers Company
Springfield
Ohio
Fane
Devonshire St
Boston
Church St
New York
N. Y
Ummers1iei
Washington Street
Summerfield
Bede
Karpen & Maher
America