-273-
number of years”, and Kanter explained that the payments had
continued because IRA’s president, Freeman, “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”. These payments
represented Ballard’s and Lisle’s shares of some of the payments
remitted to IRA by The Five that Ballard and Lisle attempted to
assign to their children.
4. Payments to THC: 1981 to 1989
During the period 1981 to 1989, Schaffel, Frey, and Essex
Partnership paid approximately $4 million to THC. The payments
from Frey ($500,770) and Essex Partnership ($645,099) represented
moneys that Kanter earned using his influence to bring deep-
pocket investors to Frey’s condominium conversion projects (and
his personal investment (through Zion) in those deals) and
arranging hotel management contracts for MHM. Kanter improperly
attempted to assign his earnings on these transactions to THC.
On the other hand, the approximately $2.8 million that
Schaffel paid to THC between 1984 and 1986 (ostensibly as
Kanter’s share of the fees that Schaffel earned arranging
Travelers financing for Walters’s development projects)
represented income earned by both Kanter and Lisle. Kanter and
Lisle improperly attempted to assign this income to THC. As
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