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Loeb, Thuringian Banker, is Rehabilitated After Anti-semitic Conspiracy

December 28, 1928
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Government Pays Him 35,000 Marks Damages in Settlement Out of Court (Jewish Telegraphic Agency)

N. Loeb, former president of the Thuringian State Bank, who was ousted from his position and was the object of a prolonged trial, as the result of an anti-Semitic conspiracy, stands today fully rehabilitated.

The government of the State of Thuringia paid the amount of 35,000 Marks to Mr. Loeb today, as compensation for damage to his reputation, in a settlement out of court.

Mr. Loeb was found not guilty of the charges of fraud brought against him in November 1925. Mr. Loeb, who had been the target for anti-Semitic agitators for some time preceding the trial, was accused of mismanagement of the Thuringian State Bank. Dr. Frieder, chief prosecutor against Loeb, was brought up for disciplinary proceedings for formulating false charges against the bank president.

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