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HRW. Petitioner also directed that a cashier's check in the
amount of $94,343.16 be issued to Johnson McGee to purchase
lumber for HRW. The cashier's checks, dated October 12, 1989,
were forwarded to petitioner's office in accordance with his
request.
The check issued to Dunn was endorsed in the name of Wendell
Wilson (Wilson). The check to Johnson McGee was later endorsed
by petitioner and deposited into the Johnson McGee checking
account at Petra International Banking Corporation (Petra). This
account was opened by petitioner, and his name was the only name
appearing on the signature card. During 1989, the funds in the
Johnson McGee account earned $698.23 in interest.
In October 1989, the Phoenix Economic Development Department
received a letter and cashier's check from Dunn, repaying the
full amount of the Phoenix loan to American Products. The letter
indicated that Dunn had acquired American Products' assets in a
recent purchase and was repaying the full amount of the $58,000
loan, including interest. With respect to the Cortez loan, the
City of Phoenix received a cashier's check from Johnson McGee in
full repayment of the loan on or about February 14, 1990.
Following these payments, the Phoenix Economic Development
Department attempted to verify that the loan proceeds were used
for their intended purpose. Their attempts, however, were
unsuccessful.
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