In the sweltering summer of 1921, a peculiar advertisement in the New York Herald caught our attention. The Lawyer’s Mortgage Co., located at 19 Liberty Street and 184 Montague Street, was offering investors a chance to put their money into Guaranteed First Mortgage Certificates, promising a return of 5 1/2 cents net interest per dollar invested, with no risk of losing a single day’s interest. Sounds too good to be true, doesn’t it?
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Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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