CHARLES SCHWAB TESTIFIES BEFORE GRAND JURY IN FORGERY CASE
New York City (JFK+50) On May 9, 1923, Charles M. Schwab* "went before a grand jury...to testify in connection with charges of second degree forgery** against Mrs. Myrtle Hayes."
The multi-millionaire steel magnate claims Mrs. Hayes forged his name on notes totaling one million dollars.
Real-estate agent Henry A. Mark says Myrtle Hayes, a Boston business woman, sold him a $25,000 note signed by Mr. Schwab who has "repudiated the note."
*Charles Michael Schwab (1862-1939) was born in Williamsburg, PA. His four grandparents were Catholic immigrants from Germany. CMS graduated from St. Francis University, 1877. Under his leadership, Bethlehem Steel Corporation became the 2nd largest steel maker in the U.S.
**Forgery is a type of fraud involving making or altering written documents to deceive a person or institution.
JFK+50 NOTE
According to Lawson & Berry, the difference between first and second degree forgery is that in the latter proof of simple possession of fraudulent writing is all that is necessary.
In first degree forgery, proof of "uttering or delivering" the forged documents is required. In the state of Georgia, both types of forgery are felonies. Punishment for 1st in the state is 7-20 years in prison, for 2nd up to 7 years in prison.
SOURCES
"Forgery," Lawson and Berry, www.georgiacriminallawyer.com
"Schwab Appears Against Alleged Woman Forger," The Washington Times, Washington, D.C., May 9, 1923, Chronicling America, Library of Congress, www.loc.gov/
