- 167 -
b. Consulting Fees Paid to Ballard's and Lisle's Children
Melinda Ballard and Karen Ballard Hart were Ballard's
daughters. Amy Albrecht was Lisle's daughter, and Thomas Lisle
was Lisle's son. In 1982, KWJ Corp. (and later the KWJ
partnership) began paying Thomas Lisle, Amy Albrecht, and Melinda
Ballard $1,000 each per month.30 In 1984, the KWJ partnership
began paying Karen Hart $1,000 each month. The payments
continued until at least 1989. From 1982, KWJ Corp. and the KWJ
partnership paid the Lisle and Ballard children the following
amounts as consulting fees:31
Lisle Children Ballard Children
Year Thomas Lisle Amy Albrecht Melinda Ballard Karen Hart
1982 $7,000 $7,000 $7,000 --
1983 12,000 12,000 12,000 --
1984 12,000 12,000 12,000 $2,000
1985 12,000 11,000 12,000 12,000
1986 12,000 13,000 12,000 12,000
1987 12,000 12,000 12,000 12,000
1988 12,000 12,000 12,000 12,000
30
Thomas Lisle and Amy Albrecht admitted that they received
consulting fees from 1983 to 1989. Melinda Ballard admitted that
she received the consulting fees from 1983 to 1988. Karen Hart
admitted that she received the consulting fees from 1984 to 1989.
No one except the Lisle and Ballard children received consulting
fees from 1983 through 1989. We conclude that the payments made
in 1982 were also made to Thomas Lisle, Amy Albrecht, and Melinda
Ballard.
31
Approximately $4,000 per month was paid to the Ballard and
Lisle children. IRA made distributions to KWJ Corp. and KWJ
partnership that were also approximately $4,000 a month. The
money distributed to KWJ Corp. and KWJ partnership was never
repaid during the years in question, and no interest was ever
paid on the amounts outstanding.
Page: Previous 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 NextLast modified: May 25, 2011