Aberdeen Banker Arrested While Auditing His Own Failed Bank
C. T. Wooding, called in to untangle the defunct Aberdeen bank's books, is charged with perjury — and the town cries foul.
Aberdeen, April 6.—Special.—Hon. C. T. Wooding was arrested here this morning for perjury in connection with the case of Wooding vs. Crain. He was taken to Montesano and released by the superior court on his own recognizance. Wooding's friends are extremely indignant, and say the arrest was malicious and for spite.
Wooding was formerly president of the defunct Aberdeen bank. Since that bank went into the hands of the present receivers they called him in to inspect the books on account of his technical acquaintance therewith. Wooding says the books are crooked, and now claims that his arrest is on a trumped-up charge, backed by the failure management of the bank, to prevent a further examination of the books by him or to place the late management in a position to discredit his testimony in future actions. No one believes Wooding guilty, and the arrest is generally regarded as an outrage.
“Wooding says the books are crooked, and now claims that his arrest is on a trumped-up charge, backed by the failure management of the bank... No one believes Wooding guilty, and the arrest is generally regarded as an outrage.”
When a failed bank's own former president is brought back to read the books — and then arrested for what he finds — it's the small-town version of every modern accounting scandal and whistleblower fight. The rush to discredit the auditor rather than answer the audit is a play that still runs today.
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