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News of VirginiaBL'TT GETS THREE fSABS.Norfolk (Special).—Alexander B.* cashier of the wrecked People'sBank, of Portsmouth* plead guilty tothree of the twenty-two indictmentsagainst him, making restitution tothe depositors to the extent of $4 7**500 of the total bank shortage of $252*066. He was sentenced by fudge Bain to three years in the penitentiary at Richmond and to pay a line of $7,184. The defendant, out under bond of $25,000* was at once placed into the custody of the sheriff Lind will Immediately begin his sen*tence.The sentence was made up as fob lows; For making false return to the Virginia corporation commission, one year and a fine of $5,000; for receiving a deposit of $300, knowing the bank to be insolvent, one year and a fine of $600; for receiving a deposit of $792, knowing the bank to be insolvent, cine year and a fine of $1,584. The fine In each case was double the amount of the deposit.All other Indictments against the defendant were dropped.With good behavior. Butt will be paroled under a conditional pardon at the end of eighteen months* or twenty-one months if the $7,184 fineis not remitted. No person can bo held in prison in Virginia for mom than three months for nonpayment of any flue.In addition to the property surrendered by the wife of the convicted man, a Mr. Stupp* of Washington, a cousin of Mrs. Butt* turned over to Receiver Griffin, of the People's Bank, $20,000 to be credited to the account of the defaulting cashier.
Newspaper Details
Mathews Journal
Mathews, Virginia, US
Thu, Feb 27, 1908
Page 1
Full Page
Clipped by
Rachel B.
USA 05 Sep 2022
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Mathews Journal
