GOVERNMENT: Golden Fleecers

With no more equipment than a telephone, sharp Canadian stock promoters have fleeced gullible Americans of millions by palming off worthless oil and uranium shares at inflated prices. Until two years ago, the U.S. could do nothing to stop the practice, since most of the operations were conducted by phone from Canada, and the U.S. had no power to extradite Canadian citizens for such an offense. But in 1952 the two countries signed an extradition treaty to cover stock frauds. In Detroit last week, marking the first use of the treaty, a...

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