12 August

Ponzi surrenders to federal authorities and is charged with mail fraud.

Charles Ponzi Convicted

Boston, 1920: an Italian immigrant promised 50% in 45 days on postage coupons. Eight months later his name was a byword for fraud.

Agents raid the Shannon farm at Paradise, Texas, arresting the Shannons and Harvey Bailey; Bates is arrested in Denver.

Machine Gun Kelly and the Urschel kidnapping Convicted

Blindfolded for nine days, an Oklahoma oilman counted the planes overhead. His memory led the FBI to a Texas farm and put Machine Gun Kelly away for life.