Joan Walters, f.k.a. Joan Gherman, and Henry Gherman - Page 12

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          behind Mr. Landa's house or petitioners' house.  Petitioners used           
          the Camelot for personal pleasure and to entertain FIP's clients.           
          The Camelot was rarely used by anyone other than petitioners or             
          FIP.  On occasion, petitioners took the Camelot on weekend                  
          excursions and to vacation in the Bahamas.  On visits to the                
          Bahamas, the boat would stay in Freeport for an extended period             
          of time with Ms. Walters and Mr. and Mrs. Landa on board, while             
          Mr. Gherman and clients of FIP would fly in from Miami to stay              
          during the weekends.  When the Camelot was used to entertain                
          FIP's clients, Ms. Walters helped prepare and serve food.                   
               FIP had a bank account in its name at Commerce Bank, N.A.              
          (the FIP account).  From 1983 through the end of 1986, hundreds             
          of thousands, and sometimes millions, of dollars flowed through             
          the FIP account each month.  All of the checks drawn on the FIP             
          account required two signatures.  Mr. Gherman generally signed              
          all of the checks written on the FIP account.  Additionally,                
          during all of 1983 and until December 1984, Ms. Walters cosigned            
          all of the checks.  During December 1984, Craig began also to               
          cosign checks written on the FIP account.  From that point                  
          forward, Ms. Walters and Craig each cosigned approximately 50               
          percent of the checks.  Ms. Walters and Craig signed the checks             
          in blank, usually 300 at a time, at their personal residences.              
          The blank checks then were taken to FIP's offices, usually by an            
          FIP employee, for use when needed, at which time the checks would           





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