-358-
transactions involving Equitable Leasing Co., Inc. (Equitable
Leasing).
Joel Mallin (Mallin) was a good friend and former law
partner of Kanter who organized and promoted various equipment
leasing transactions through Equity Leasing, his wholly owned
company. Kanter, Transcr. at 4749; Mallin, Transcr. at 5172-
5175. Mallin’s leasing transactions were highly leveraged, and
the residual value of the leased equipment provided the
ostensible paper profit on his investors capital. Mallin,
Transcr. at 5175-5186.
During 1983, Kanter allowed Mallin to include Zion as an
investor in some of Equitable Leasing’s offerings so that the
offering would be fully subscribed and could close. Kanter,
Transcr. at 4752. During 1983, Kanter also introduced additional
investors to Mallin so that Equitable Leasing could complete
certain transactions. Kanter, Transcr. at 4753, Mallin, Transcr.
at 5213-5215.
During 1983, Equitable Leasing transferred funds totaling at
least $635,250 to THC and Zion, as follows:
Date Amount Payee Exhibit
1/4/83 $317,250 Zion 9203; 146, at 6 (AJE 32)
1/24/83 9,500 THC 9203; 146, at 2 (AJE 8)
6/1/83 6,500 Zion 9203, at 9
6/30/83 302,000 THC 9203; 148, at 12
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