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residences and other personal assets. The $35,000 was retained
by the Gherman family members' bankruptcy attorney.
The bankruptcy court further found that Justice for All,
Inc. (see infra), Chaska Trading, Ltd., FFP, and ShariCraig,
Inc., were sham corporations and mere instrumentalities and alter
egos of FIP.
Mr. Feltman believed that no Gherman family member other
than Mr. Gherman had any knowledge of Mr. Gherman's embezzlement
activities before he fled the country.
Ms. Walters' Entertainment Business Activities
Sometime after Shari's birth, Ms. Walters started a personal
management company to manage singing acts. She formed Gherman
Associates, Inc. (Gherman Associates), with Mr. Gherman's
brother, Warren, to operate the personal management business.
Gherman Associates operated as a subsidiary of FIP. FIP owned 80
percent of the stock of Gherman Associates, Ms. Walters owned 5
percent of the stock, and Peter Michael Lewis, a Miami record
producer and arranger, owned the remaining 15 percent. Mr.
Gherman, however, handled all of the financial aspects of Gherman
Associates.
During 1969, Ms. Walters began managing Gherman Associates'
first client, Barry Smith (Mr. Smith), who sang with the Gospel
Jazz Singers. She also managed the Gospel Jazz Singers. Later,
Mr. Smith introduced Ms. Walters to other singers whom she began
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