United States v. Kenneth P. Pitt, Jr., Paul E. Kane

COLEMAN, Senior Circuit Judge:

This ease arises from a misbegotten effort to palm off forged foreign corporate stock certificates as security for a five million dollar loan, sought of a broker in Munich, Germany. When the bogus securities were tendered the forgery was immediately detected and the attempted fraud blew up. Kane and Pitt were indicted for (1) wire fraud, committed in the course of efforts to arrange for the negotiation of the forged instruments, and (2) for the possession and delivery of false, forged, or counterfeit stock certificates of a foreign corporation with intent to…