Hanover Trust Company Explained

The Hanover Trust Company was a private American bank of the 1920s. Its offices were located in Boston, Massachusetts.[1]

It became infamous initially for turning down Charles Ponzi for a loan of 2,000 dollars[2] (for his IRC scheme) in 1919, and subsequently for being bought up by Charles Ponzi in July 1920.

Notes and References

  1. Book: Zuckoff. Mitchell. Ponzi's scheme - the true story of a financial legend. 10 January 2006. Random House Trade Paperbacks. New York. 0812968360.
  2. Book: Leadership with a Conscience: Educational Leadership as a Moral Science. 2 December 2011. R&L Education. 978-1-61048-395-7. 101. Robert Palestini.

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