PER CURIAM:
I.
In 1984 and 1985, Arky and business partner Robert Baumstein attempted to take advantage of the depressed housing market in Houston. They purchased, at 70% of appraised value, 36 houses built by Gemcraft Homes. They arranged for straw buyers, who had good credit ratings, to apply for assumable Federal Housing Administration loans to purchase houses from Arky and Baumstein at full appraised value. A loan was for 95% of the purchase price when...
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