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a nominee. IAA was, in effect, a holding company, with 80.2
percent of the shares in another corporation, Financial Security
Corp. of America, Inc. (FSCA). Through the end of 1986, Mr.
Martin held 80 percent of the shares of IAA, and the remaining
three shareholders were some of the same people who owned the
19.8 percent of the shares of FSCA that were not held by IAA. In
turn, FSCA was the parent of eight subsidiary corporations,
including one named Primera Development Corp., Inc. (Primera).
Mr. Martin had been a high school teacher and coach, earning
extra income by means of part-time insurance sales. By employing
teacher/coaches, he was very successful in his insurance agency
business and, as of 1984, had 2,500 agents under contract. In
1984, Amicable was purchased by another insurance company, which
detrimentally affected Mr. Martin and IAA, and, due to
contractual disputes with their agents, a suit was filed against
the purchaser of Amicable. Mr. Martin began looking for another
insurance company to underwrite his business, and, in 1984, he
acquired Twentieth Century Life Insurance Co. (Life) and made it
a subsidiary of a holding company named Twentieth Century
Financial Corp., Inc. (Financial). Financial was owned 51
percent by Mr. Martin, and he and petitioner were board members.
Petitioner was a minority shareholder of Financial. Petitioner
was not involved in the business of Financial, but she did get
involved in public relations, such as charitable projects in
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