Rice v. United States

BRATTON, Circuit Judge.

C. T. Rice, Parquay Royalty Company, Inc., Parquay Operating, Inc., and Federated Acceptance Corporation were indicted in twenty-six counts. Counts one to twenty-one, inclusive, each charged the use of the mails in furtherance of a scheme to defraud, in violation of section 315 of the Criminal Code, 18 U.S.C.A. § 338; and counts twenty-two to twenty-six, inclusive, each charged the use of the mails to defraud in' the sale of securities, in violation of section 17 of the Securities Act, 15 U.S. C.A. § 77q.

Rice owned two patents, one relating to a revolving top building…