Misappropriation £rime Admitted by One Chen Shui-hwa, a Chinese employee of Jardine, Matheson Ca. who was arrested recently by the police on suspicion that he had misappropriated $750,000 from his company by virtue of his position as a shroff in the compradore department confessed to the crime yesterday in the First Special District pleading leniency while at ihe same time trying to exonerate the other accused Lu Shui-chang, his relative and colleague who was arrested with him, They were formally charged yesterday with misappropriation and aiding and abetting in the crime, respectively, but judgment was reserved pending further investigations. The first accused admitted having obtained money from his company legally by forging signatures, He did stock speculation business with the money thus obtained. He said that the other accused had nothing to do with the misappropriation.
It was revealed by the police prosecutor that the police had recovered $640,000 in cashable documents and more than $50,000 in cash and that about $100,000 was still unaccounted for.
Text read from the printed page and cleaned; old type leaves the occasional error.