From: Kelley Lynch <kelley.lynch.2010@gmail.com>
Date: Sat, Nov 15, 2014 at 1:37 PM
Subject: Traditional Holdings, LLC Corporate Books, Records, & Tax Returns
To: Jeffrey Korn cc: IRS, FBI, DOJ, FTB & Multiple Parties
Jeffrey,
Loans permitted. Cohen acknowledged he was entitled to receive loans when he executed the Annuity Agreement. His loans/expenses now total approximately $6.7 million. The agreed upon interest was 6% per annum. That interest now totals approximately $4 million.
I am requesting the right to inspect, or receive, a copy of any and all amendments to the Traditional Holdings, LLC Articles of Organization or Operating Agreement. Leonard Cohen testified that Richard Westin rectified a mistake that allegedly occurred with respect to my rightful ownership interest in Traditional Holdings, LLC, a Kentucky entity. I would like to see how this matter was handled in corporate documents, minutes, etc.
Furthermore, allocations of profits and losses are addressed in the corporate governing documents. See attached. I am presently unaware of any modifications to those agreements. Your client understood that loans were acceptable and further verified that when he signed the Annuity Agreement that I have previously forwarded you.
The expense ledger is evidence of fraud and I am also attempting to address both illegal debt and illegal pre and post judgment interest which continues to accrue on a year basis. I would therefore like to see all profit and loss statements for TH from the moment the entity was created.
Additionally, I would like to see all asset valuations with respect to the intellectual property that was owned by Blue Mist Touring Company, Inc. See non-revocable assignments of property. These assets should not have been formally removed from that company without the appropriate distributions pursuant to Cohen and my ownership interests which were 15% KL and 85 LC. Where have those assets been moved to [or sold to] and is there an accounting related to the collections with respect to royalties related to the IP?
I would appreciate the courtesy of a response.
Kelley Lynch
TH: Allocation of profits and loss. Allocated in proportion to the capital accounts of each member subject to Class B Common Shares. Then allocations to Class A & B in proportion to their ownership interest.
KL - 100% of Class B, 99.5% of class A. Distribution of $24,000/year.
LC - .5% of Class A (based on $25 cash contribution - no evidence provided).
LC - .5% of Class A (based on $25 cash contribution - no evidence provided).
Distributions of $20,000 and $240,000 per management agreement; corporate records; Westin March 6, 2002 explanation letter.
TH had the legal authority to lend money to its members and others.
TH had the legal authority to lend money to its members and others.
Loans permitted. Cohen acknowledged he was entitled to receive loans when he executed the Annuity Agreement. His loans/expenses now total approximately $6.7 million. The agreed upon interest was 6% per annum. That interest now totals approximately $4 million.
Evidence of Cohen's payment of the initial cash contribution as proof of his ownership interest in TH.