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ULTIMATE FINDINGS OF FACT.....................................200
OPINION.......................................................202
I. Burden of Proof.........................................203
II. Structural Defect.......................................211
A. Case Law................................................211
B. Arguments...............................................215
C. Summary of Government Misconduct........................218
D. Discussion..............................................225
III. Harmless Error Analysis.................................233
A. Review of Dixon II......................................236
1. Mr. Kersting's Lack of Credibility...................237
2. Sham Analysis........................................238
3. Lack of Genuine Debt/Waltz of Funds..................240
i. Subscription Interest...........................241
ii. Primary Loans...................................242
iii. Leverage Loans..................................244
4. Collection Litigation................................244
5. CAT-FIT Plan.........................................245
6. Additions to Tax.....................................247
i. Negligence......................................247
ii. Late Filing.....................................247
iii. Substantial Understatement......................247
iv. Increased Interest..............................248
B. Discussion..............................................249
1. Mr. Cravens.........................................249
i. Sham Analysis...................................251
ii. Lack of Genuine Debt/Waltz of Funds.............254
2. Mr. Thompson.........................................255
i. Sham Analysis...................................257
ii. Lack of Genuine Debt/Waltz of Funds.............258
iii. Additions to Tax................................262
3. Mr. Alexander........................................264
4. Summary..............................................266
IV. Fraud, Misrepresentation, and Misconduct................267
V. Fraud on the Court......................................271
A. Case Law Survey.........................................271
B. Discussion..............................................281
VI. Mr. Izen's Allegations That Mr. DeCastro Was a "Mole"...283
VII. Enforceability of Piggyback Agreements..................284
A. Principles of Contract Law..............................285
B. Discussion..............................................290
1. Benefit of the Bargain...............................290
2. Mr. Seery's Purported Conflict of Interest...........294
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Last modified: May 25, 2011