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decision of the board of directors of Double Wealth (viz.,
petitioner, Ms. Gaw, and Mme. Koo), the $1,625,000 certificate of
deposit in the name of Double Wealth and the renewals of that
certificate of deposit were pledged as security for BB $1,625,000
Loan No. 2 and the renewal of that loan.16
When the Double Wealth $1,625,000 CD matured on August 12,
1985, Bangkok Bank LA branch issued a second certificate of
deposit to Double Wealth in the amount of $1,625,000 that matured
on September 12, 1985. From July 11, 1985, until that second
certificate of deposit matured, the interest rate on BB
$1,625,000 Loan No. 2 was set at 7.5 percent, which was .5
percent above the 7 percent interest rate on both of the
$1,625,000 certificates of deposit issued to Double Wealth.
When the second $1,625,000 certificate of deposit issued to
Double Wealth matured on September 12, 1985, Bangkok Bank LA
branch issued a third certificate of deposit to Double Wealth in
the amount of $1,625,000 that matured on June 11, 1986, the same
date on which BB $1,625,000 Loan No. 2 was due. During the
period September 12, 1985, until June 11, 1986, the interest rate
on that third certificate of deposit was set at .5 percent below
16 The decision of Double Wealth's board of directors was docu-
mented by minutes of a meeting of that board signed by Mme. Koo
as chairman of that meeting. The pledge of the $1,625,000
certificate of deposit in the name of Double Wealth was docu-
mented by a pledge executed by Ms. Gaw and witnessed by Mme. Koo.
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