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Billy Carter — Part 7
Page 9
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months of records were misplaced earlier by the Government, although —
ne pewrnre »
OP ge
Carter then admitted taking a "loan" from the Libyans in the
amount. of $200,000. This "loan", he said was arranged by his
good friend Ahmed al-Shahati, the head of the Libyan Liaison
office. It was paid to him by a check drawn on a bank, the
name of which he cannot now recall. The check was deposited
by Carter in his personal checking account at the Peoples
National Bank, LaGrange, Georgia. According to Carter, he
could not recall when exactly he received the check in that
the transaction was negotiated primarily by Randy Coleman,
a close personal friend of Carter's who has his special power
of attorney. He stated he had asked for $500,000, but was
able to get only $200,000. He believes that the money was
received in March or April, 1980. Carter said he was virtually
bankrupt in that while he had assets, they were not liquid and
his cash flow had been substantially diminished. He said he
was unable to borrow from conventional sources, because of
apparent "harrassment" by the IRS and other government agencies
of any person or institution which dealt with him. He said the
loan was fully and formally collateralized in the amount of
$800,000, although he also stated that to his knowledge the note
and collateral agreement were not recorded at his request. He
said the interest rate is set at 10%, with interest only payable
at the end of one year. Thereafter, the terms of the loan may be
renegotiated. Carter insisted that this was a bona fide loan and
that he had every intention of paying it off, although he admitted
that most of the $200,000 had been dispersed by him to pay personal
outstanding debts.
Carter advised further that he had received a check from
the Libyans in March in the amount of $20,000 which was partial ©
reimbursement for his expenses in hosting a reception for. the
to demonstrate that his personal out of pocket expenses in con-
nection with that visit were approximately $40,000. Carter also
stated that in connection with the Curran investigation 3 or 4.
he understood they were recently located in Baltimore and that he
believes the receipts to which he referred are in those missing —
documents. a
Carter was reminded that upon interview in Americus on
January 16, he had said that his expenses were $6,000 to $7,000
in connection with the reception and this would mean he actually
received additional compensation in the amount of $13,000 to
$14,000. He repeated his earlier statement that his expenses
were approximately $40,000 and that the $6,000 to $7,000 figure
was not correct.
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‘Libyan delegation in January of 1979. He said that he had receipts ee
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