-251-
agreement with Kanter, Lisle assisted Schaffel by approving a
number of financing deals between Travelers and Walters for
various development projects. Schaffel remitted one payment to
IRA arising from a Travelers financing deal that he brokered
shortly after Lisle began working at Travelers. Schaffel then
balked at making any additional payments to IRA. A dispute
between Schaffel and Kanter ensued, and Kanter convinced Schaffel
that he was obliged to continue to share with Kanter any fees and
commissions that he might earn on Travelers financing
transactions. At this point, Schaffel did not want to remit any
further payments to IRA, and Kanter directed Schaffel to make his
payments to THC.
Although Schaffel remitted his payments to either IRA or
THC, those entities were used only as conduits to appease
Schaffel’s concerns over the legality of sharing broker’s fees
with a nonbroker. There is no evidence in the record that anyone
representing IRA or THC was “instrumental or helpful” in
obtaining financing from Prudential or Travelers for Walters’s
development projects or in obtaining Prudential construction
contracts for Torcon.
Schaffel understood that Kanter himself would exert
influence in an attempt to obtain Prudential and Travelers
business for Schaffel and his clients. We conclude Kanter
obtained such business from Prudential with the help of Ballard
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