Business & Finance: Pepper Prospectus

Standing with heads bowed before the King's Bench in London's Old Bailey one day last week, three British financiers received British Justice for their part in last year's unsavory "pepper pool" collapse that rocked London commodity markets and brought losses of millions to British investors (TIME, Feb. 18, 1935). The "Pepper King," an Armenian-born British subject named Garabed Bishirgian, had been accused of issuing a securities prospectus which he "knew to be false in a material particular." Aiding & abetting this crime was the charge against John Henry Charles Ernest Howeson,...

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