ÁÉc·?

®f@¤»
5

8QGHUVWDQGLQJ RI WKH 5HOLJLRQ

,VODPLF TXHVWLRQV RQ D ZLGH YDULHW\ RI WRSLFV ZKLFK KDYH EHHQ DQVZHUHG LQ GHWDLO ZLWK IXOO
H[SODQDWLRQ E\ WKH JUHDW 0DUMDC 7DTOLG Œ\DWXOOƒK DOC8ŠPƒ DO‘ƒMM DVK6KD\NK /X‰IXOOƒK DVƒI„ DO
*XOSƒ\JƒQ„ PD\ $OOƒK SURWHFWKLP
7UDQVODWHGLQWR(QJOLVKE\6DOHHP %KLPML ZZZDOPXELQRUJ

4XHVWLRQ :LWK ZKDW ZLVGRP RU UHDVRQ GLG$P„U DO0RØPLQ„Q SHDFH EH XSRQ KLP JLYHWKHRDWKRIDOOHJLDQFH
%D\CDK WR $E… %DNU NHHSLQJ LQ PLQG WKDW JLYLQJ WKHED\CDK WRKLPZDVDQDFFHSWDQFHRIKLV.KLOƒIDK DQG
SURRIRIKLP$E… %DNUEHLQJRQWKHVLGHRIWKHWUXWK"

$QVZHU ,Q UHODWLRQ WR WKH LVVXH RIWKHED\CDK RI$P„U DO0RØPLQ„Q SHDFHEHXSRQKLP DQGWKHRDWKRIDOOHJLDQFH
WKDW LW ZDV VDLGZDVWDNHQIURPKLPZKHWKHUWKLVEHVRPHWKLQJWKDWLVYHULILHGRUGHQLHGDQGDOVRWKLVQREOH
SHUVRQDOLW\ SHDFH EH XSRQ KLP UHPDLQLQJ TXLHWDQGQRWSDUWLFLSDWLQJLQDQ\W\SHRIDFWLYLW\RIUHEHOOLRQDQGQRW
SLFNLQJXSDUPVWRJRDJDLQVWWKRVHZKRVWROHKLVULJKWV LQDQ\ZD\WKDWKDGWDNHQVKDSH DQGWKHSOHDVXUH
DQG DSSURYDO RI WKLV SHUVRQDOLW\ LQ UHODWLRQ WR ZKDW KDG RFFXUUHG DUH DOO WKLQJV WKDWDUHQRWHVWDEOLVKHG
DFFRUGLQJWRWKHUHFRUGHGHYHQWVRIKLVWRU\

7KH UHOXFWDQFH RI WKRVHSXUHVRXOVWKH&RPSDQLRQVDQGWKHRWKHUJUHDWSHUVRQDOLWLHV ZKRLQWKHEHJLQQLQJ

GLG QRW JLYH WKH ED\CDK KRZHYHU ODWHU RQ DV VRPH SHRSOH PHQWLRQ GLG JLYHED\CDK  DQGDOVRWKHODUJH
QXPEHU RI SHRSOH ZKR LQWKRVHVSHFLILFDQGSDUWLFXODUFRQGLWLRQVJDYHWKHED\CDK LQDSDUWLFXODUZD\DVKDV
EHHQPHQWLRQHGLQKLVWRU\LVQHLWKHUFRQILUPHGQRUHVWDEOLVKHG

:LWK KLV VZRUG GUDZQRXWRIWKHVKHDWKDQGZLWKWKHKHOSDQGVXSSRUWRIKLVJDQJC8PDU URDPHGWKHVWUHHWV

RI0DGLQDK WKUHDWHQLQJWKHSHRSOHZLWKGHDWKDQGIRUFHGWKHPWRJLYHWKHLUED\CDK WR$E… %DNU

3OHDVHSD\DWWHQWLRQWRWKHIROORZLQJSRLQWV

 7KH EHOLHIDQGFUHHGRIWKH6K„CD ZKRDUHRIWKH3HRSOHRIWKH7H[WWKURXJKWKHXWLOL]DWLRQRIWKHORJLFDODQG

UHODWHG SURRIV MXVWDVZDVSUHYLRXVO\H[SODLQHGLVWKLVWKH,PƒPDK LVDSRVLWLRQWKDW RQHLVDSSRLQWHGLQWR
E\ $OOƒK DQGDIWHUWKH3URSKHWWKDWLQGLYLGXDOZKRVHSHUVRQDSRVVHVVHVDOORIWKHFKDUDFWHULVWLFVHPERGLHG
LQ ,VODP H[FHSW IRU 1XEXZZDK DQG ZKRVKDUHVLQWKHFRQWLQXDWLRQRIWKHVDPHGLYLQHEOHVVLQJVRIWKDW
SHUVRQDOLW\ 7KH 3URSKHW LQ DOOZD\VDQGIRUPVLVWKHRQHZKRVH:LOƒ\DK PDVWHUVKLSRYHUDOODIIDLUVRI
WKH VRFLHW\ PXVW EHGHVLJQDWHGDQGDSSRLQWHGE\$OOƒK WKH0RVW+LJK $P„U DO0RØPLQ„Q SHDFHEHXSRQKLP 
DFFRUGLQJ WR WKH FRXQWOHVV WH[WV RI ƒˆƒG„WK DQG RWKHU SURRIV ZDVWKHDSSRLQWHG.KƒOLIDK DQGWKHWUXH
,PƒP DQG GHYLDWLRQ IURP KLP WR DQ\RQHHOVH HYHQLIDOORIWKHSHRSOHDUHLQDJUHHPHQWRYHUWKDWRWKHU
SHUVRQLVQRWSHUPLVVLEOHDQGLVDFDVHRI

þKôó¦¨÷¾ë ú÷Z»˜« Â…¦Á»¢ú÷I¾ì«

3XWWLQJDKHDGWKHRQHZKRP$OOƒK KDVOHIWWRWKHUHDU
DQG OHDYLQJWKHRQHZKRP$OOƒK KDVJLYHQSUHIHUHQFHWR

Î
 -XVW DVWKH3URSKHWLVQRWSHUPLWWHGWRJUDQWWKHVWDWLRQRUSRVLWLRQRI1XEXZZDK WRDQ\RQHHOVHVRWRRWKH
,PƒP LVQRWSHUPLWWHGWRJUDQWWKHVWDWLRQRUSRVLWLRQRI,PƒPDK WRDQ\RQHHOVH7KHUHIRUHVXSSRVLQJWKDW
DIWHU C$O„ SHDFHEHXSRQKLP ZDVUHIXVHGWKHVWDWLRQRI.KƒOLIDKDQGWKHQODWHURQWKHED\CDK ZDVWDNHQIURP
KLP RU WKLV QREOH SHUVRQDOLW\GXHWRHYHQWVWKDWFDPHXSODWHURQZKLFKZLOOEHPHQWLRQHGHQVXLQJZDV
UHQGHUHG KHOSOHVV WR SOHGJH WKH ED\CDKWKHQWKHWUXHPHDQLQJDQGVLJQLILFDQFHRIWKLVVRUWRIED\CDK ZDV
QRWDFKLHYHGE\WKLVIRUFHGDFWDQGWKHFRUUHFWQHVVRIWKHDFWLRQVRIWKHRWKHUSDUW\LVQRWDFFHSWHG

 ,I WKH .KLOƒIDK RI $E… %DNUZDVEDVHGRQWKHWUXWKWKHQWKLVZRXOGLPSO\WKDWWKHKHVLWDQFHRIC$O„ DQG

6D\\LGDK =DKUƒ SHDFH EH XSRQ ERWK RI WKHP DQG D ODUJHQXPEHURISHRSOHDQGUHYHUHG&RPSDQLRQVZDVQRW
SURSHUDQG WKDWWKH\ZHUHQRWRQWKHSDWKRIWKHWUXWK

,W LV NQRZQ WKDW WKHUH DUH GHILQLWH DQGGHFLVLYHƒˆƒG„WK IURPWKH1REOH3URSKHWRI,VOƒP EOHVVLQJVRI $OOƒK EH
XSRQ KLP DQG KLV IDPLO\ ZKLFKVWDWHWKDWC$O„ LVRQWKH7UXWKDQGWKH7UXWKLVZLWKC$ O„ DQGWKHVHWZRZLOOQHYHU
VHSDUDWH IURP RQH DQRWKHU DQG WKHUHIRUHLIVRPHRQHVD\VWKDWC$O„ ZDVQRWZLWKWKHWUXWKLQWKLVHYHQWRU
GLG QRW VSHDN WKH WUXWKRUGLGQRWDFWXSRQWKHWUXWKWKHQKHLVEHOLHGWKH3URSKHWEOHVVLQJVRI $OOƒK EHXSRQKLP
DQGKLVIDPLO \ 

7KXV LW LV ZLWK QR XQFHUWDLQW\ WKDWZHVD\WKDWC$O„ SHDFHEHXSRQKLP LQWKLVHYHQWDQGDOORWKHUHYHQWVDQG

FLUFXPVWDQFHV ZDVDOZD\VRQWKHWUXWKDQGKLVUHIXVDOWRJDLYDH WKHED\CDK ZDVDOVRQRWWKHUHIXVDOWREHRQ
WKHWUXWKUDWKHUKLVUHIXVDOZDVWKHGHQLDORIIDOVHKRRG

 7KH UHIXVDO RI C$O„ SHDFH EH XSRQ KLP DQG DJURXSRIRWKHUVWRJLYHED\CDK WRWKH.KDO„IDK IURPWKHSRLQWRI
YLHZ RI KLVWRU\ LV QRWVRPHWKLQJWKDWFDQEHGHQLHGDQGHYHQRQHRIWKHFRQWHPSRUDU\SRHWVIURP(J\SW
ZKR LV NQRZQ E\ WKH WLWOH RI 7KH3RHWRIWKH1LOH LQKLVSRHPVKDVDOVRDGPLWWHGDQGGHFODUHGWKLV 7KH
UHIXVDO WR JLYHWKHED\CDKZDVVRFRPPRQO\DFFHSWHGDQGLQGLVSXWDEOHVXFKWKDWLQRQHRIWKHOHWWHUVWKDW
KH ZURWH WR C$O„ SHDFH EH XSRQ KLP  0XƒCZL\DK KDVPHQWLRQHGWKLVIDFWDQGLQUHSO\WKLVQREOHSHUVRQDOLW\
C$O„ SHDFH EH XSRQ KLP GLGQRWGHQ\WKDWKHKDGQRWJLYHQWKHED\CDKUDWKHUWKHULJKWIXOQHVVDQGOHJLWLPDF\
RI KLVGHQLDODQGUHIXVDODQGWKHRSSUHVVLRQWKDWKHIDFHGLVPHQWLRQHGLQKLVRZQZRUGVLQWKLVZULWLQJWR
0XƒCZL\DKZKHQKHZURWH

ª· ¾øŠç M¿ŒÀ« ÌÀȢȩ̮°È ¢È¾ŠìŠó ʅ¦Âø àŠóÂÈ ގ¢¥É¢¬· ɳ̼
 ø º’ó¦ Œòø´’ó¦É®¢Šì ¢øŠïÉ®¢ŠëÉ¢ªüïŒ û¤Êªô’ ëŒÈÂ
³<RX DOVR ZDQW WR WDXQWPHE\VD\LQJWKDWZKHQ,UHIXVHGWRDFFHSWWKHFDOLSKDWHRIWKH)LUVW&DOLSK,
ZDV GUDJJHG OLNH D FDPHO ZLWKDURSHURXQGP\QHFNDQGHYHU\NLQGRIFUXHOW\DQGKXPLOLDWLRQZDV
OHYHOHGDJDLQVWPH´/HWWHU  1DKM DO%DOƒJKD

7R VXPPDUL]H RXU SRLQW QRWRQO\LVWKHUHQRURRPIRUGRXEWRUVNHSWLFLVPWKDW,PƒP C$O„ SHDFHEHXSRQKLP

DQG WKH UHVWRIWKHFODQRI%DQ„ +ƒVKLP DQGDODUJHQXPEHURIWKH&RPSDQLRQVUHIXVHGWRJLYHWKHLUED\CDK
WRWKH.KDO„IDKUDWKHUWKHLUUHIXVDOZDVNQRZQDQGHYLGHQWIRUDOOWRVHH

+RZHYHU LILWLVFODLPHGWKDWDIWHUWKRVHKDUVKDQGFRDUVHHYHQWVWKDWWRRNSODFHC$O„ SHDFHEHXSRQKLP DQGWKRVH

ZKR VXSSRUWHGKLPJDYHWKHLUED\CDK DQGWKDWWKHLUED\CDK ZDVE\ZD\RIWKHLURZQLQZDUGSOHDVXUHDQGWKHLU
SXUH KHDUW DQG LQWHQWLRQ WKHQLWLVQRWSRVVLEOHWRVXEVWDQWLDWHWKLVFODLPVLQFHWKHˆDG„WK RIWKLVHYHQWLVD
VLQJOH QDUUDWLRQ NKDEDUHZƒˆLGDQGLQWKHWHUPLQRORJ\RIWKHVFLHQFHRIˆDG„WKLWLVGRXEWIXOPDVKN…N ,Q
WKLV ˆDG„WK PDQ\ FRQWUDVWV DQGLUUHJXODULWLHVFDQDOVREHVHHQZKLFKDWWKLVSRLQWLQWLPHLVQRWWKHSODFHIRU
GLVFXVVLRQ  $Q\ZD\ZHDUHQRWDEOHWRFODVVLI\WKHLUED\CDK DVDQDXWKHQWLFED\CDK WKDWZRXOGKDYHDQ\EDVLV
LQWKH,VOƒPLF OHJLVODWLRQ

$W WKLV SRLQW ZH PHQWLRQ VRPHUHDVRQVWKDW,)LQGHHGWKLVED\CDK GLGRFFXULQKLVWRU\WKHQZK\LWPD\KDYH

WDNHQSODFH

 ,W ZDV VHHQ E\C$O„SHDFHEHXSRQKLP WKDWWRVWDQGXSWRZKDWKDGRFFXUUHGZRXOGQRWEHSRVVLEOHH[FHSWE\

UHVRUWLQJ WRDUPVZKLFKZDVQRWFRQFHLYDEOHVLQFHLWZRXOGUHVXOWLQDQLQWHUQDOZDUEHWZHHQWKH0XVOLPV
7KH FRQGLWLRQ DQG VLWXDWLRQ WKDW WKH 0XVOLP 8PPDK ZDVLQZDVVXFKWKDWYHU\UHFHQWO\WKURXJKWKH

Ï
 SDLQV DQG WURXEOHV RI WKH1REOH3URSKHWEOHVVLQJVRI $OOƒK EHXSRQKLPDQGKLVIDPLO\ DQGWKURXJKWKHDVVLVWDQFHRI
C$O„ SHDFH EH XSRQ KLP DQGRWKHUVWKHVHHGRIWUXHIDLWKDQGFRQYLFWLRQLQWKH2QHQHVVRI$OOƒK KDGMXVWEHHQ
VRZQ LQWKHKHDUWVRIWKHEHOLHYHUVDQGDQLQWHUQDOZDUZRXOGQRWKDYHVHUYHGWKHFDXVHRI,VOƒP ,WZRXOG
EH WKURXJK WKLV DFW WKDW WKH YHU\ IRXQGDWLRQV RI ,VOƒP ZRXOG EHSXWDWLQGDQJHUDQGZRXOGIRUFHWKH
0XVOLPVWRVWDQGXSLQUDQNVDJDLQVWRQHDQRWKHUZKRVHRXWFRPHRUFRQFOXVLRQZRXOGQHYHUEHUHDFKHG

,W ZDV C$O„ SHDFH EH XSRQ KLP ZKR KDG KHOSHG WKH 3URSKHW EOHVVLQJV RI $OOƒK EH XSRQ KLP DQG KLV IDPLO\ LQ WKH
HVWDEOLVKPHQW RI WKLV IRXQGDWLRQ RI ,VOƒP,WZDVWKURXJKKLVWUXWKIXOQHVVDQGVLQFHULW\DQGE\SXWWLQJ
KLV OLIH LQ KLV RZQ KDQGV DQGWKURXJKKLVVHOIVDFULILFHVDWDOOSODFHVDQGDOOWLPHVIURPWKHYHU\ILUVWGD\
WKDW EXLOW WKH UHOLJLRQ +LVKHDUWWKUREEHGIRUWKLVUHOLJLRQDQGKHVDZWKDWLIWKHGHIHQVHRIKLVRZQVHOI
PHDQW WKH GHVRODWLRQ DQG DQQLKLODWLRQ RIWKHVHIRXQGDWLRQVWKHQIRUVXUHKHZRXOGFKRRVHWRVDYH,VOƒP
DQG WU\ WR PDLQWDLQ WKH XQLW\ RI WKH0XVOLPVLQIDFHRIWKHRSSRVLWLRQRIWKH.XIIƒU DQGZRXOGJLYHWKLV
SUHFHGHQFH WR WKHDGMXGLFDWLRQRIWKHWUXWK 7KLVZRXOGDOORZ,VOƒP WRSURJUHVVDQGDGYDQFHHYHQWKRXJK
VXFKDSURJUHVVZRXOGEHVORZHUDQGWDNHPXFKORQJHU

$OOƒK IRUELG WKDW WKH UHOLJLRQ FRPHWRDFRPSOHWHVWDQGVWLOODQGWKHPRYHPHQWWKDWWKH3URSKHWEOHVVLQJVRI

$OOƒK EH XSRQ KLP D QG KLVIDPLO\ KDGEURXJKWIRUWKZLWKWKHKHOSRIWKHSHRSOHVKRXOGVWRSIRUHYHQRQHPRPHQW
LI D ZDU ZRXOG WDNH SODFH DPRQJVW WKH 0XVOLPV MXVW VR WKH JURXQGZRUNFRXOGEHODLGGRZQIRUWKH
DGYDQFHPHQW RI WKH UHOLJLRQ RI ,VOƒP DQGLQRUGHUIRUWKHPDQGDWH DQGHVWDEOLVKPHQWRIWKH:LOƒ\DK DQG
.KLOƒIDK RIC$O„ WRWDNHURRWLQWKHIXWXUHMXVWDVKDSSHQHGODWHURQ

:LWK WKH SDVVLQJ RI WLPH WKH WUXWKIXOQHVV RI WKH $KO DO%D„W SHDFHEHXSRQDOORIWKHP DQGWKHEOXQGHUVDQG
PLVWDNHV RIGHYLDWLQJIURPWKHWUXH,PƒP WKDWKDGEHHQDSSRLQWHGZDVPDGHDSSDUHQWDQGRQWKHLURZQ
WKH SHRSOH GHYHORSHG DQ DWWUDFWLRQ IRU WKH1REOH4XUCƒQ DQGWKH$KO DO%D„W SHDFHEHXSRQDOORIWKHP DQGWKH
WUXHEHOLHILQWKH,PƒPDK

7KH RSSRUWXQLW\ DOVR DURVHIRUWKH$KO DO%D„W SHDFHEHXSRQDOORIWKHP WRJXLGHWKHSHRSOHWRWKHSXUHVSULQJV

RI,VOƒPWKHWHDFKLQJVRIWKHUHOLJLRQWKHH[HJHVLVRIWKH4XUCƒQ DQGWKHWUXHUHOLJLRQRI,VOƒP ZLWKDOORILWV¶
UXOHV DQG UHJXODWLRQVSROLWLFDOWHDFKLQJVVRFLHWDODQGHWKLFDOLQVWUXFWLRQVDQGJXLGHOLQHV 0RUHLPSRUWDQW
WKDQDOORIWKLVWKHFRUUHFWGLYLQHWKHRORJLFDOEHOLHIVZHUHFRQIHUUHGWRWKHSHRSOH

+RZHYHU LI DQ LQWHUQDO ZDU KDG WDNHQ SODFH LQ 0DGLQDK WKHQWKHFRUUXSWLRQGHYLDWLRQVHGLWLRQDQG
UHYROWV WKDW ZRXOG KDYH VWHPPHG IURP WKLV DFW ZRXOG KDYH SXW DOO WKLQJV LQ GDQJHU RI FRPSOHWH
DQQLKLODWLRQ DQGLWZDVEHFDXVHRIWKLVUHDVRQWKDWC$O„ SHDFHEHXSRQKLP UHMHFWHGWKHDGYLFHIURP$E… 6XI\ƒQ
IRU KLP SD\LQJ ED\CDK WRC$O„ SHDFHEHXSRQKLP  DQGFRQVLGHUHGWKLVDVDQDFWWKDWZRXOGLQLWLDWHVHGLWLRQDQG
UHYROW

 7KH VHFRQG UHDVRQ IRU C$O„ SHDFH EH XSRQ KLP JLYLQJ ED\CDK LVWKDWMXVWDVFDQEHGHGXFHGIURPDVWXG\RI
KLVWRU\ WKLVQREOHSHUVRQDOLW\KDGIHDURUFRQFHUQIRUWKHOLIHRIKLPVHOIDQGWKDWRIKLVIDPLO\DQGWKLVIHDU
RU FRQFHUQ ZDVVRPHWKLQJWKDWC$EEDVKLVXQFOHZDVDEOHWRGLVFHUQ ,WZDVKLVXQFOHZKRDGYRFDWHGKLP
WR SD\ WKH ED\CDK VLQFH LI KH ZDV WREHNLOOHGWKHQLWZRXOGEH,VOƒP DQGWKH0XVOLPVZKRDWWKDWWLPH
ZHUH GHVSHUDWHO\ LQ QHHG RI NQRZOHGJH DQG HQOLJKWHQPHQWZKRZRXOGKDYHEHHQLQGLVDGYDQWDJHDQG
ORVV

,W ZDV LQ VXFKDFLUFXPVWDQFHLQZKLFKLWZDVQRWSRVVLEOHWRKDYHUHFRXUVHLQIRUFHDQGDOVRRQHLQZKLFK

FRPSOHWH VXEPLVVLRQ ZDV DOVR QRW LQ WKH EHVWLQWHUHVWWRGHDOZLWKWKHVLWXDWLRQWKDWC$O„ SHDFHEHXSRQKLP
ZDVYHU\FDUHIXODQGFULWLFDOLQKRZKHGHDOWZLWKWKHVLWXDWLRQ

7KLV QREOH SHUVRQDOLW\ E\ FKRRVLQJ WKH SDWK WKDW KH GLGIXOILOOHGDYHU\KHDY\UHVSRQVLELOLW\WKDWZDV
XSRQ KLPKHH[SRVHGWKHWUXWKDQGDWWKHVDPHWLPHREVHUYHGZKDWZDVEHVWIRU,VOƒP LQLWVHQWLUHW\+LV
SUHFLRXV VRXO ZKLFKZDVUHDG\WRVDFULILFHLWVVHOILQWKHSDWKRI,VOƒP ZDVDOVRSURWHFWHGVRWKDWKLVEORRG
ZRXOG QRW KDYH EHHQ VKHG XVHOHVVO\ VLPSO\ WR DIILUP WKH SRZHU RIWUXWKDQGVRWKDWWKHILUHRIUHYROW
WKURXJK ZKLFK DOO WKLQJV DUH VFRUFKHG ZRXOG QRW EH OLW DQG VR WKDW WKHRSSRUWXQLW\RI,PƒPDK DQG
OHDGHUVKLSRIWKHFRPPXQLW\ZKRVHDFTXLVLWLRQZDVH[SHFWHGLQWKHIXWXUHZRXOGQRWJRDZD\
Ð
,Q VXPPDU\ C$O„  DFWHGDFFRUGLQJWRWKHWHVWDPHQWWKDWZDVOHIWE\WKH3URSKHWEOHVVLQJVRI
SHDFH EH XSRQ KLP
DQGGLGQRWHYHQFULQJHLQFDUU\LQJRXWWKHZLOOE\WKHDPRXQWRIWKHKHDGRID
$OOƒK EH XSRQ KLP DQG KLV IDPLO\
QHHGOH  7KH DUHQD RU HQYLURQPHQW WKDW ZRXOGFDXVHWKHIHHOLQJVRUHPRWLRQVRIDQ\EUDYHFRXUDJHRXV
SRZHUIXO SHUVRQ WR EH VWLUUHGRUVWLPXODWHGZHUHDOOZLWQHVVHGKRZHYHUDQ\DFWWKDWKHVKRXOGQRWKDYH
SHUIRUPHG QRU DQ\ZRUGVWKDWPXVWQRWEHVDLGZHUHQRWLVVXHG+HDFWHGZLWKFRPSOHWHNQRZOHGJHDQG
E\REVHUYLQJDQGZHLJKLQJDOODQJOHVRIWKHVLWXDWLRQ

+RZHYHU DOO RIWKHVHFRQGLWLRQVDQGVLWXDWLRQVSURYHWKHWUXWKIXOQHVVRIC$O„ SHDFHEHXSRQKLP DQGKLVGHVLUH

IRU ,VOƒP DQG KLV DFWLQJ QRW IRU KLV RZQ VDNH  ,W LV FOHDU WKDW WKLV QREOHSHUVRQDOLW\ZDVFRPSOHWHO\
DQQLKLODWHG DQGGURZQHGDQGLQWKH7UXWK$OOƒKDQGWKDWZKLFKZDVLPSRUWDQWWRKLPDQGKDGDQ\YDOXH
ZDV,VOƒP DQGWKHHQGXUDQFHRIWKHFRGHRI,VOƒP DQGWKHLQWHUHVWVRIWKH0XVOLPV

,Q WKH FRQGLWLRQV WKDW KH ZDV SXW LQ QHLWKHU KLV VWD\LQJ TXLHW RU JLYLQJED\CDK E\IRUFHDQGWKURXJK
FRHUFLRQ ZRXOG JLYH DQ\FUHGHQFHWRWKHULJKWIXOQHVVRIWKHVWDWHRIDIIDLUVDWWKDWWLPH1RUZRXOGVXFKD
ED\CDK DEVROYH DQ\RQH RI WKHLU UHOLJLRXV UHVSRQVLELOLW\ QRU ZRXOG LW SDUGRQ DQ\RQH RI WKHLU FRGH RI
FRQGXFW

ÂÊhÄAî¸@ ƸD È d½ˆ AÀdËk й¤ @ йs È ’›A¥¸@ Kg  d½…@ ÃB AÀ@ɤc h`D È

³-Ç 03/8 h­¡›@ h­s