Steven J. Romer - Page 4

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          no longer available.  Petitioner’s letter explains, in part, as             

                   To get right to the point, your money is no longer                 
               available, I’m sorry to say.  I did, however, take out a               
               very large life insurance policy, $23 million, just before             
               my condition was diagnosed.  If you make a fuss or contact             
               the authorities, the insurance company will use it as an               
               excuse to claim fraud and avoid paying the face of the                 
               policy.  You will be paid in full in a very short time.                
                   By a similar letter I have informed my wife of this                
               obligation * * *. * * *                                                
                   I used the money to feed some hungry and poverty-                  
               stricken people.  It didn’t go into my home or family.  In             
               fact, my home is mortgaged for about twice of what it is               
               worth.  Your only method of being repaid is through the life           
               insurance.  I deeply regret the whole episode.                         
                   Please don't and ask your attorney to not contact                  
               Chemical Bank.  It will do you no good, since there is no              
               money there and the insurance company will use that as an              
               excuse to not pay the policy.                                          

               Neither Votano nor the trust ever received back from                   
          petitioner any portion of the $741,065.  As a result of the loss            
          of the $741,065, Votano received $100,000 from the New York State           
          Lawyers’ Fund for Client Protection.                                        

          $450,000 Received From William Marion’s Family Trusts                       
               At the request of William Marion, a long-time legal client,            
          petitioner, in 1974, established a family trust on behalf of the            
          two daughters and one son of William and Lillian Marion.  In                
          1985, again at the request of William Marion, petitioner                    

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