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The Fund W swindle through the U S mails exposed
A Chicago fraud case explains how the Fund W scheme used the mails to gather investments by promising fat monthly dividends. It details how Fleming and Merriam’s Mutual Cooperative Fund W claimed to centralize capital to control markets, paid dividends from new investments, and lured thousands of thrifty savers. The scheme collapsed under post office action and resulted in prosecutions, inspiring many copycat frauds while warning investors to distrust offers promising high, steady returns.
MENTIONED IN THIS ARTICLE
Uhe
United States Post Office Department
United States
Shether
Wilks
Tse
Fleming & Merriam's Mutual Cooperative Fund
Chicago Board of Trade
Stock Exchange
Tese
Board of Exchange
Stuart
Chicago
Postofice
Washington
Department of Justice For Criminal Prosecution
Joseph B. Bewleas