Michael London - Page 6

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               application as "Manager and Director".  The parties have                                 
               stipulated that Mrs. London was the "liquor licensee" of                                 
               London's Cafe, Inc., d/b/a/ Heller's Cafe from 1974 through                              
               at least December 1986.  In this opinion, we refer to the                                
               corporation as London's Cafe, Inc., and to the bar as                                    
               Heller's Cafe.                                                                           
               Check-Cashing Business                                                                   
                      From 1977 through 1993, Mr. London also conducted a                               
               check-cashing business as a sole proprietorship, M.L.                                    
               Associates, from an enclosed area in Heller's Cafe.  M.L.                                
               Associates charged its customers a fee for cashing checks.                               
               The fee ranged from 1 to 15 percent of the total amount of                               
               the check.  Mr. London also lent money to customers and                                  
               charged various rates of interest ranging from 5 to 200                                  
               percent per week.                                                                        
                      Mr. London used two bank accounts for the check-                                  
               cashing business, Essex Bank account No. 069-159-7 and                                   
               Shawmut County Bank account No. 616-781-0.  During the                                   
               years 1980 through 1985, the aggregate deposits made to                                  
               these accounts are as follows:                                                           

                                  Year                   Amount                                         
                                  1980              $16,074,523.13                                      
                                  1981              16,827,056.79                                       
                                  1982              21,791,552.32                                       
                                  1983              29,202,291.31                                       






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