Around Manhattan's Title Guarantee & Trust Co., William Benjamin seemed to be a favored character. As head of a war plant (Metropolitan Machine Shops, Inc., maker of machine parts and auto jacks), he borrowed $99,970 from the bank, without very close questioning. When Benjamin later confessed to frauds totaling $493,000 (and went to Sing Sing), Title Guarantee expressed shock, but it also gave off embarrassed sighs of relief. Alone among Benjamin's big creditors, Title Guarantee had been repaid in full.
Spurred by the claims of other creditors, the District Attorney's office dug deeper into Benjamin's business, turned up evidence that led...
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