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construction contracts between Prudential and Torcon. In the
early fall of 1981, Schaffel also agreed to share with Kanter any
fees he might earn on financing that Prudential might provide for
Walters’s development projects. Kanter agreed to share with
Ballard and Lisle any fees he might receive from Schaffel if they
used their influence at Prudential to award construction
contracts to Torcon or to provide financing for Walters’s
projects.
While Ballard and Lisle were still employed at Prudential,
Schaffel received (1) real estate broker’s fees on the sale of
IBM’s headquarters building to Prudential, (2) fees related to
Prudential construction contracts awarded to Torcon, and (3) fees
related to financing that Prudential provided for Walters’s
development projects. Schaffel shared these fees with Kanter by
way of payments to IRA.
Although some of the Prudential transactions that generated
fees for Schaffel were initiated after Ballard and Lisle left
Prudential, the inference may fairly be drawn that those
transactions were an outgrowth of Ballard’s and Lisle’s earlier
decisions to do business with Schaffel, which allowed Schaffel
(and his clients) to establish a favorable reputation with
Prudential.
In 1982, Lisle left Prudential and accepted a position as
the head of Travelers’ real estate department. Pursuant to his
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