-73-
respondent claimed that Carlco, TMT, and BWK were owned by Lisle,
Ballard, and Kanter, respectively, and, therefore, a much larger
portion of the payments from The Five, a total of some $6.7
million, was transferred to Kanter, Ballard, and Lisle through
so-called capital contributions to Carlco, TMT, and BWK. Id. at
459-473, 598-601. Though not to be ignored, the loans
represented relatively small amounts of the moneys that
respondent alleged were passed along from The Five, through
Kanter-related entities, to Kanter, Ballard, and Lisle.
III. Details Regarding The Five
A. Certain Payments Made by The Five (STJ report at 32-33)
Prior to and during the years at issue, Prudential was
perhaps the largest holder of commercial real estate in the
United States. By the late 1970s, it either held or was
responsible for managing an estimated $20 billion in commercial
real estate properties. In addition to its extensive commercial
real estate holdings in numerous cities throughout the United
States, since the 1960s, Prudential also was involved in
developing commercial real properties and in extending financing
to other real estate developers on various real estate projects
around the country.
As indicated previously, by the middle of 1982, Ballard and
Lisle each had left Prudential. After leaving Prudential, Lisle
obtained a similar position at Travelers. Respondent’s case for
Page: Previous 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 NextLast modified: May 25, 2011