-168-
have the time to manage BWK’s assets as he had originally
planned. Kanter, Transcr. at 3695.
2. IRA’s Transfers to Carlco, TMT, and BWK of Funds Paid
by The Five
a. Funds Paid by The Five to IRA During 1977 Through
1983 Transferred to Carlco, TMT, and BWK
During 1977 through 1983, payments made by The Five to IRA
in connection with the various Prudential transactions discussed
above totaled approximately $5 million.
Beginning in 1984, Kanter purportedly directed that IRA’s
“free-cashflow” be distributed in the ratio of 45 percent each to
Carlco and TMT and 10 percent to BWK. From 1984 through 1989,
IRA generally transferred funds and other assets to Carlco, TMT,
and BWK, in the respective 45/45/10 percent allocation ratio
Kanter had directed.
During 1984, approximately $4.2 million was transferred from
IRA to Carlco, TMT, and BWK in a 45/45/10 percent split by way of
(1) transfers through the TACI Special E and the TACI Special
Accounts and (2) distributions related to Essex Partnership and a
partnership known as Sherwood Associates Partnership. Exhs.
2003, 2006, 2010.
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