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the Southern District of Florida (bankruptcy court). Mr. Feltman
was appointed trustee of the bankruptcy estates.
Additionally, on August 31, 1988, creditors of Mr. Gherman
filed an action in the High Court of Antigua, seeking the
turnover of $2.97 million they alleged Mr. Gherman had deposited
at that bank. Subsequently, the three actions were consolidated
in the bankruptcy court. Hereinafter, we will refer to the
consolidated proceedings as the 1988 bankruptcy.
On January 26, 1989, Mr. Feltman filed a cross-claim and
third party complaint in the 1988 bankruptcy against Mr. Gherman,
Ms. Walters, Shari, Craig, Mr. Rance, Chasyn Rance, Ashtyn Rance,
and Kara Gherman (Gherman family members), wherein Mr. Feltman
sought recovery of fraudulently transferred funds and assets
purchased with those funds, and a denial of Mr. Gherman's
discharge. Mr. Feltman's position was that all assets owned by
the Gherman family members were derived from embezzled funds and
should be returned.
For purposes of the 1988 bankruptcy, accountants hired by
Mr. Feltman prepared a schedule, dated November 22, 1988,
entitled "Schedule of Perceived Certificates of Deposit by
Investor" (CD schedule). The CD schedule reflects the names of
the individuals, corporations, estates, trusts, or other entities
from whom Mr. Gherman had embezzled money as a part of the CD
scheme. The CD schedule also reflects, by date and segregated by
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