- 21 -
The deed shows no consideration for the transfer and indicates
the transfer was a “gift to spouse”.
(f) ERG Check to Burton (Ref. Carroll)
On May 17, 1989, a petition for confirmation of arbitration
award and entry of judgment was filed in the California Superior
Court, San Francisco County. According to that document, Michael
Brooks Carroll (Carroll) provided advice and legal services with
respect to the disagreement Burton had with his brother
concerning the ownership, management, and control of NPI and ERG.
Burton withheld payment for such services. The arbitrators
rendered a decision that Burton owed Mr. Carroll $96,748.98, plus
interest thereon.
On May 19, 1989, ERG issued Burton check No. 19888 for
$96,748.98. The check bears the notation “for Michael B.
Carroll.” The check was endorsed “For Deposit Only Wells Fargo
Bank 740-6070466," an equity credit line of the Bensons (the
Bensons’ Wells Fargo bank account). The check was deposited and
accepted for payment on May 24, 1989.23 On or about May 23,
1989, Burton purchased a Wells Fargo Bank cashier’s check No.
13499 made payable to Carroll for $97,467.21 from the Bensons’
23The check was initially presented for payment on May 19,
1989, but not honored because of insufficient funds. On May 24,
1989, the check was again presented for payment.
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