Johnson v. United States

MOORMAN, Circuit Judge.

Appellants were engaged in buying and selling stocks on their own account while acting as managing officers 'of the First National Bank of Blissfield, Mich., a member bank of the Federal Reserve Banking System. They used the funds of the bank to finance their speculations and were charged with and convicted of a conspiracy to misapply its credits and funds and to conceal the misapplications from the board of directors and from the Comptroller of the Currency and his agents by making false entries on its books.

The offenses alleged as the objects of the conspiracy were…