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Lisle Loans
Lender Year Distributee Amount
Int'l Films 1974 RWL Cinema Trust $15,000
Int'l Films 1975 RWL Cinema Trust II 20,000
Int'l Films 1975 Lisle 10,000
Int'l Films 1976 RWL Cinema Trust 5,000
Int'l Films 1976 RWL Cinema Trust II 18,000
Int'l Films 1977 RWL Cinema Trust II 5,000
Int'l Films 1978 Lisle 9,500
Int'l Films 1978 RWL Cinema Trust II 3,750
Int'l Films 1978 RWL Cinema Trust II 4,469
Int'l Films 1979 Lisle 8,784
Int'l Films 1979 RWL Cinema Trust II 3,000
Int'l Films 1980 RWL Cinema Trust II 250
Int'l Films 1981 RWL Cinema Trust II 2,750
Int'l Films 1982 RWL Cinema Trust II 2,320
Int'l Films 1983 RWL Cinema Trust II 3,000
HELO 1983 Basking Ridge Trust 95,000
IRA/Int'l Films 1983 Lisle 3,000
Int'l Films 1984 RWL Cinema Trust II 3,000
Administration Co. 1985 RWL Cinema Trust II 3,000
Int'l Films 1986 RWL Cinema Trust II 3,000
Administration Co. 1987 RWL Cinema Trust II 2,463
IRA 1988 RWL Cinema Trust II 6,000
BWK 1989 RWL Cinema Trust II 3,000
BWK 1990 RWL Cinema Trust II 2,969
5. Writeoff of Loans and Losses
Kanter traded receivables between various entities and used
convoluted bookkeeping entries to eliminate the receivables and
to create bad debt and worthless stock deductions.
IRA distributed $160,400 to Ballard in 1982 and $500 in 1983
and recorded the transfers as receivables owed by Ballard. IRA
immediately transferred the receivables to Int'l Films. IRA's
general ledgers reflected Ballard's receivable account for 1982
and 1983 as follows:
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