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...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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