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Crispin in a “tax deal”. Upon his return from Atlanta, Lester
was paid about $7,500 for his services in traveling to and
participating in the closing.
Although Koehler did not attend the Atlanta closing, Koehler
was elected sole director, president, secretary, and treasurer of
LLDEC in documents dated January 30, 1997. On January 30, 1997,
Lester was elected senior vice president of LLDEC. Also by means
of a January 30, 1997, document, Koehler (as LLDEC’s sole
director) authorized LLDEC’s sale of the Decatur realty to
Wachovia for $7,577,657, which was accomplished by means of a
January 30, 1997, agreement between LLDEC and Wachovia. The sale
of the Decatur realty to Wachovia was negotiated by employees of
NSI. In a January 30, 1997, document entitled “Guaranty of
Lease”, NSI guaranteed fulfillment of the obligations in the
prior net lease agreement (to which the Decatur realty was
subject) between NSI and Corisma. Finally, on January 30, 1997,
NSI sold all of LLDEC’s stock to CKH for $7,053,000 derived from
LLDEC’s sale of the Decatur realty. LLDEC paid petitioner
$524,657 (which represented the difference between the $7,577,657
selling price for the Decatur realty and the $7,053,000 selling
price for the LLDEC stock), purportedly as an investment banking
fee for petitioner’s arranging the sale of the Decatur realty.
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