Youtz

Defendant has appealed from a judgment of imprisonment entered upon his conviction of the crime described in section 564 of the Penal Code. Under the terms of the section noted, directors, officers, and agents of a corporation who concur in the making, publishing, or posting of reports or statements of the pecuniary condition of the corporation which are untrue or falsely exaggerated, are guilty of a felony. It was charged that appellant, while holding the position of director and acting vice-president of a certain corporation organized under the laws of California, published and concurred in publishing to the stockholders and other persons a financial statement as to the affairs of the corporation, which was false in a material part. The facts as exhibited by the record show that the California corporation was organized as a “holding” concern, and that simultaneously therewith a fire insurance company was organized under the laws of Arizona; that a large number of shares of stock of the California corporation were sold, the greater part of the price agreed to be paid for which, was evidenced by promissory notes given by the purchasers of the stock to the corporation. These notes…