Wells
Wells v. United States
Opinion
Lead Opinion
Hunt, J.
Writ of error to review conviction of Wells for violation of section 215 of the Penal Code (Comp. St. § 10385).
The substance of the charge was that about March 3, 1922, Wells and others, indicted and convicted, were to form a partnership for the purpose of acquiring and holding certain acreage and two town lots; that they were to organize a trust called the Cooperative Oil Syndicate of Santa Fé Springs; that the trust agreement was to provide that each partner should own a one-sixth interest in the land, title to be in two persons (also defendants) as trustees; that the property was to be divided into 5,000 undivided interests, to be sold to the public for $100 each, deeds to be given to the purchasers, the syndicate reserving 25 per cent, of all oil, upon the false pretense, representation, and promise that many wells would be drilled on the property, whereas defendants did not intend to drill many wells, but only one; that, as a further part of the scheme for the purpose of indueihg persons to buy, there were to be false representations and promises by means of lectures and letters to be sent through the United States mail; that “victims” were buying undivided interests in the…