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approximately $250,000 that IRA lent to KWJ Partnership during
1985 to 1989 (which was used to make consulting payments to
Ballard’s and Lisle’s adult children, discussed below).
By the end of 1989, IRA’s records reflected that it had
transferred capital contributions and paid-in capital to Carlco,
TMT, and BWK as follows:
Carlco TMT BWK
$2,938,173 $2,938,267 $652,250
3. IRA Loans to Kanter, Ballard, and Lisle
a. IRA Loans to Ballard and Ballard’s Trusts
During the period 1974 to 1988, IRA, IFI, and HELO made
loans to three of Ballard’s grantor trusts (CMB Cinema Trust, CMB
Cinema Trust II, and Summit Trust) as well as separate loans to
Ballard individually. As of December 1987, IFI held receivables
or notes due from Ballard and his grantor trusts totaling
approximately $380,000.
b. IRA Loans to Lisle and Lisle’s Trusts
During the period 1974 to 1990, IRA, IFI, HELO, TACI, and
BWK made loans to three of Lisle’s grantor trusts (RWL Cinema
Trust, RWL Cinema Trust II, and Basking Ridge Trust) as well as
separate loans to Lisle individually. As of December 1987, IFI
held receivables or notes due from Lisle and his grantor trusts
totaling approximately $202,000.
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