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small business management from the University of Texas at
Arlington and a master of business administration degree, with an
emphasis in finance, from the University of Dallas at Irving,
Texas.
During the first part of 1988, petitioner was employed by
the City of Phoenix, Arizona, as an economic development
specialist in the Phoenix Economic Development Department. In
this capacity, petitioner oversaw the minority-owned and women-
owned Small Business Enterprise Revolving Loan Program (revolving
loan program) that was charged with promoting minority-owned and
women-owned businesses and with creating and retaining jobs in
Phoenix. Loans made by the revolving loan program were funded
with Federal Housing and Urban Development (HUD) moneys.
In March 1988, a loan in the amount of $42,000 was made from
the revolving loan program to Cortez Distribution (Cortez). The
loan application for this loan was allegedly signed by Everett
Rand (Rand), the general manager of Cortez. In April 1988, a
similar loan in the amount of $58,000 was made from the revolving
loan program to American Products Company (American Products).
Petitioner was the loan officer for each of these loans and
managed the loan process in both cases. Hereinafter, the Cortez
and American Products loans will be collectively referred to as
the Phoenix loans.
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