-338-
1975, the class C interests were sold to Nassau/Suffolk
Cablevision Investors for $4,500,000. Statland Exh. 5B.
Levenfeld/Kanter’s law firm partners sometimes raised
capital for investments and businesses owned by the firm’s
clients. Statland Exh. 23. Kanter and other Levenfeld/Kanter
partners participating in OBA solicited and obtained from various
investors the funds OBA promised to contribute to LICCDC.
Kanter, Transcr. at 4591, 4681-4684; Exhs. 7312, 7313, 7315-7318;
Statland Exhs. 6, 22-24, 26; Statland Exh. 53 (Dolan Deposition),
at 69-71, 129, 130, 138, 165, 179, 194; Baskes Transcr. at 37-41.
Kanter personally solicited investors for LICCDC including, but
not limited to, Genesis Ventures and Hugh Hefner. Exhs. 7310,
7311; Kanter, Transcr. at 4683-4684. As a result of the funds
raised by Kanter and other Levenfeld/Kanter partners for LICCDC,
OBA never contributed more than $2,000 in cash or property to
LICCDC. Statland Exhs. 12, 16-19; Baskes Transcr. at 33-34.
In exchange for the funds Kanter and other Levenfeld/Kanter
partners raised for LICCDC, OBA received its interest in LICCDC
and additional interests in LICCDC through additional
partnerships including HB, Bergen-Westchester (BW), and Yorkshire
Partners (YP) for which OBA paid no cash or other property.
Statland Exhs. 5, 10; Exh. 7307; Statland Exhs. 12, 16-19; Baskes
Transcr. at 33-34; Statland Exh. 53 (Dolan Deposition), at 71.
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