ABSTRACT
The Chicago agents located the Castle account at American National and the signature card on file. In the period when Resorts was created, Burton W. Kanter was very active in The Bahamas shaping up Castle Bank. With Norman Casper’s help, Jaffe determined that Castle, with its own bank accounts in Chicago, South Florida, and New York, was an underground conduit for untaxed money. The question of Castle’s true situs was clearly recognized by the Castle people as soon as the Internal Revenue Service served a summons on the Chicago bank for its Castle records. Company records in 1965 produced Sally Woodruff’s critical lead on Castle’s origins. Once Castle primed itself for commerce, major developments followed. In 1968, the shares owned by the Panamanian company jumped to over 35,000 and the following year Gene Poe and Columbus (Chris) O’Donnell became Castle officers. Castle in the Bahamas, was not closed, despite Sam Pierson’s push for the radical Cayman solution.
