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Embezzler to Face Punishment for Grave Mistake
Fred L. Schmidt a commission firm auditor faced federal authorities as shortages in his accounts, potentially totaling 50000 dollars, were linked to paying off debts from running a dance hall. He claimed a grave error and offered restitution proposals including an 18000 dollar life insurance beneficiary to cover the rest. Merle Kempton, 18, aided Schmidt by helping buy a car and loaned money. he altered a Peirce Gamet bank deposit from 300.72 to 3000.72 to help Schmidt, and was remanded to jail. Parents came to aid in his defense. The odd note on fleece quality follows.
MENTIONED IN THIS ARTICLE
Bronx City
INS
Fred L. Schmidt
Tye
Schmidt
Peirce & Gamet Commission Company
Merle Kempton
K Kempton
A. W. Johnson
Kempton
Concordia
Kan