-5-
2. IRA’s Transfers to Carlco, TMT and BWK of
Funds Paid by The Five ........... 168
a. Funds Paid by The Five to IRA During 1977
Through 1983 Transferred to Carlco, TMT,
and BWK ................. 168
(i). Transfers From Zeus to IRA ... 169
(ii). IRA’s Transfer of Its Interest
in Essex Partnership ...... 170
(iii). IRA’s Transfer of Its Interest
in Sherwood Partnership ..... 171
(iv). Accounting Treatment ...... 172
(v). Additional Capital Contributions
to Sherwood Partnership ..... 173
b. Transfer of Funds Paid by The Five During
1984 Through 1989 to Carlco, TMT, and BWK 174
(i). Hyatt Corp. ........... 174
(ii). Frey .............. 176
(iii). Schnitzer/PMS .......... 176
(iv). Essex Partnership ........ 176
c. Carlco, TMT, and BWK Capital Accounts .. 177
3. The Disposition of Funds From Carlco, TMT, and
BWK for the Benefit of Ballard, Lisle, Kanter,
and Their Families .............. 178
a. Ballard’s Use and Enjoyment of TMT’s
Assets .................. 178
(i). TMT’s Various Accounts ..... 178
(ii). Loans From TMT to Ballard and
Ballard Entities ........ 178
(iii). TMT’s Property Transferred to
Ballard ............. 181
(iv). Investment in Melinda Ballard’s
Company ............. 184
(v). Ballard’s Disclosures to
Goldman Sachs .......... 185
(vi). TMT’s Assets .......... 187
b. Lisle’s Use and Enjoyment of Carlco’s
Assets .................. 188
(i). Carlco’s Various Accounts .... 188
(ii). Lisle’s Personal Use of Carlco’s
Funds ............. 189
(iii). Carlco’s Assets ........ 189
c. Kanter’s Use and Enjoyment of BWK’s
Assets .................. 190
(i). Salaries and Officer Compensation
Paid to Kanter and His Son ... 190
(ii). Loans ............. 190
(iii). Gifts ............. 191
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Last modified: May 25, 2011