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SOUTH WHITLEY MAN HELD AS EMBEZZLERMILAN J. LOY UNABLE TO ACCOUNT FOR $4,700 TO PRODUCE COMPANY.(Special to the News.)COLUMBIA CITY, Ind.. Jan. 5.— Milan J, Loy, manager of the Noi thern Indiana Egg and Poultry company at South Whitley, Ind., has been bound to the circuit court on a chaige of embezzlement. He had admitted to the embezzlement of $8,200, but Ills books show a shortage of $4,700. This difference, Loy says, will be accounted for when the books arc audited.Suspicion was directed to Loy in December when he sent to President. Nates, at the company’s headciuaiters in New York, a statement showing a balance of $3,800 in the South Whitley bank. Shoitly after the arrival of the report the company was notified by the bank that their account was overdrawn $900. The books of the company were at once taken over by company representatives and Loy was arrested. He was able to secure $2,000 bond, furnished by Alex Hodens and P. A, Edwards, and was released.According to Loy he first took money from the company m December, 1914. He used it to play the stock market and his following defalcations were made to cover losses on the market. Loy is a married man with two children. He came to South Whitley from Ohio five years ago.
Newspaper Details
Fort Wayne News
Fort Wayne, Indiana, US
Fri, Jan 05, 1917
Page 1
Full Page
Clipped by
Bowling G.
OH, USA 17 Jan 2019
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