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BIG BANK THEFT
WALTER WOLF'S £733,000
DEFEATED THE AUDITORS
(Special to 'The DaUy News')
CHICAGO, September 9.
Our system of audit and control
which Walter Wolf was able to defeat for
twelve years is one of the most complete
and approved systems in vogue in bank
ing business,' said the Continental Illi
nois Bank and Trust Co., announcing
Wolf's embezzlement of £733,000 exactly.
Lloyd's (.London) insurance will re
turn £400,000, but the bank must stand
the remainder of the loss itself, unless
it is able to secure a return of substan
tial sums from brokers with whom Wolf
speculated.
Wolf will plead guilty and accept a
prison term without protesting. His
wife still has a few thousands left from
the savings out of his salary of £15 a
week.
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