Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 114

                                                -194-                                                   
            number of years”.  Exh. 476.  Kanter explained why Albrecht                                 
            continued to receive the monthly payments as follows:                                       
                  Regrettably, from * * * [IRA’s] point of view (clearly                                
                  not yours), Mr. Freeman was preoccupied during that                                   
                  time with other personal difficulties that were                                       
                  protracted and distractive of his attention in                                        
                  virtually every respect.  I do not believe you are                                    
                  aware of any of those difficulties and there is no need                               
                  to dwell on the point, other than to tell you that                                    
                  during that time, he paid no attention to the                                         
                  activities of * * * [IRA] and its affiliates, and those                               
                  who were simply administering tasks on behalf of * * *                                
                  [IRA] routinely continued to make payments to you since                               
                  they had no contrary instructions.                                                    
            Exh. 476, at 2; Albrecht, Transcr. at 921.  The record includes a                           
            nearly identical letter that Kanter wrote to Thomas Lisle.  Exh.                            
            9099; Thomas Lisle, Transcr. at 937.                                                        
                  2.  Additional Loans                                                                  
                  a.  IRA Loans to Kanter                                                               
                  IRA lent various amounts to Kanter during the period 1982 to                          
            1989.  Exhs. 25, 26, 29, 32-36.  By the end of 1989, Kanter owed                            
            $600,000 to IRA.  Exh. 36, at 6.  There is no evidence of notes                             
            for these loans, and there is no evidence that any principal or                             
            interest was paid on these loans.                                                           
                  b.  Loans to Ballard, Lisle, Their Family Members,                                    
                  and Their Trusts                                                                      
                  (i).  Ballard’s Grantor Trusts                                                        
                  Ballard was the settlor of the following grantor trusts,                              
            with the trustees and beneficiaries, as indicated:                                          






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