GOLD: Judgment Day

Two South African gold mine promoters, who had perpetrated one of the biggest swindles in their country's history (TIME, Dec. 15, 1947), last week got their comeuppance. In Johannesburg, horse-racing Norbert Stephen Erleigh, 46, and his rude, crude ex-partner, Joseph Milne, 53, were convicted on a combined total of 63 fraud and theft counts. The court said that their New Union Goldfields, Ltd., which had once controlled 160 companies valued at some £30 million, "was, in reality, a gambling house."

Erleigh and Milne, the court found, had shifted the assets of their...

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