Business: Yaleman

Assistant U. S. Attorney for the Southern District of New York is hustling young William Maloney. He went to Fordham University and his middle name is Power. Last week William Power Maloney obtained a $4,500,000 mail fraud indictment against three young Yalemen, 49 other individuals and 20 corporations—biggest mail fraud indictment in U. S. history. Smartest of the three Yalemen was Wallace G. Garland, Class of 1925 (Sheffield). Member of a solid Pittsburgh family, he was not a conspicuous undergraduate except as a brilliant student. Even Professor Irving Fisher liked his original notions...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!