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IV. Flow of Money
A. Payments to IRA and Subsidiaries: The Prudential
Transactions
1. Overview
The payments related to the Prudential transactions paid by
the Five to IRA and its subsidiaries during the years 1977
through 1989, were as follows:
Schnitzer
Year Hyatt1 Schaffel Frey PMS Essex Total
1977 $38,394 $38,394
1978 42,517 42,517
1979 119,719 $100,000 $303,088 522,807
1980 244,920 $127,372 380,337 752,629
1981 90,070 361,525 105,764 534,696 1,092,055
1982 172,702 447,450 538,781 361,692 $86,212 1,606,837
1983 172,090 30,981 110,125 361,692 78,376753,264
1984 186,092 103,500 361,692 133,238784,522
1985 206,790 128,763 361,692 120,175817,420
1986 231,263 361,692 80,466 673,421
1987 229,449 361,692 120,698 711,839
1988 197,348 361,692 117,563 676,603
1989 52,777 840,423 51,727 944,927
Total 1,739,211 1,184,876 1,114,305 4,590,388 788,455$9,417,235
1Net Weaver's 30%.
Prior to 1984, all payments related to the Prudential
transactions were paid to IRA or one of its subsidiaries. By
early 1982, Ballard and Lisle had left Prudential. During 1982
Carlco, TMT, and BWK, Inc. were formed. In 1983 the three
corporations became part of IRA's consolidated group, KWJ Corp.
was liquidated, and the funds accumulated by Zeus were
distributed to IRA. In 1984, IRA distributed the funds that had
been accumulated from the Prudential transactions in the ratio of
45 percent to Carlco, 45 percent to TMT, and 10 percent to BWK,
Inc. From 1984 through 1989, most payments related to the
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