Nature of the Case
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Facts
D created Provident Bond and Investment Company. D promised investors large returns of up to 50% on moneys given to him in a group investment plan for bonds that increased their yield the longer they were held. It was alleged that D intended by false representations of future payments, to obtain for his own use the sum of money paid by each of the divers persons for said bond, to wit, the sum of fifty dollars each. D used the U.S. mail for his fraud and was tried in federal court. D was convicted of false pretenses and appealed.
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