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Show 16 Page - THE HERALD, Provo, Utah, Thursday, March 24. 1983 Business Ufrah Angle Involved in DeLorean Auto Manufacturing Bankruptcy - DETROIT (UPI) A federal bankruptcy court judge Wednesday agreed to the subpoena of bank records of the defunct DeLorean Motor Co. amid creditors' charges that 917.6 million taken in by the firm cannot be accounted for. Judge George Wood issued the order after confusing testimony charged the missing $17.6 million may have been used to purchase Utah-base- not for its disbursement. He said records show a $22 million payment to Lotus, the British automaker, for assistance in the development of the auto. "It's my view, however, that none of that money was ever received by Lotus," Hughes said. He added there is another $17.6 million in cash that he cannot account for. Yale Levin, an auditor hired by the court to investigate DMC's books, said there is a possibility the money may have been used by DeLorean to buy Logan Manufacturing. The Utah firm, which produces vehicles used to groom ski slopes, is the subject of Internal Revenue Service investigations into DeLorean's financial holdings. DMC has been trying to sell Logan Manufacturing since for records at the Illinois National Bank and Trust of Chicago and the Chemical Bank of New York. DMC attorneys said the subpoenas were in effect a wild goose chase and had no bearing on creditors' concerns. During testimony, attorneys for the creditors said Swiss company, GPD, took in about $40 million from three of DMC's many subsidiaries. The money was intended to be used to develop the car. It has never been made clear why GPD was formed. There is no evidence the firm ever did any actual work for DMC. The only evidence of its existence is DeLo-rean- Logan Manufacturing instead of to pay for the development of the sportscar. DMC went out of business last fall just after its founder, John Z. DeLorean was arrested in Los Angeles on federal drug charges. He is free on bond awaiting trial next month. d gull-wing- 's a post office box in Geneva. Christopher Hughes, an auditor for Coopers Lybrand in England, said he can only account for the receipt of the $40 million, refused to quash subpoenas requested by creditors Woods last fall. Kenneth McConnell, DeLorean's personal attorney, asked Levin in court whether he was making "some stupid allega- tion" about Logan ManufacturThe auditor responded he was only raising the possibility. Asked by reporters whether he was afraid of what the bank records might turn up, McConing. nell responded, "We're not afraid of anything." Sheldon Tole, an attorney for the creditors, said he hoped the subpoenas would help explain where the missing $17.6 million went. "Our first problem is to latch onto the cash, and if we can latch onto it we can then determine who it belongs to," Tole said. Mormon Messages about Jesus Reg. $6.00 Sale $4.99 Book of Remembrance Reg. SI 5.95 Sale $12.99 Private Investigator Opens Office Tom Proctor, president of Proctor Investigation and Polgraphy, Mali phonecenter 4 I Reg. $.35 ea. Named Manager SALT part Special Operations Squad. While with the LAPD Proctor received commendations for distinguished performance as an investigator and as a strike force - has opened offices in the Dodge and Dodge building, suite 201, 11 E. 200 N., Orem. Proctor's company is a licensed leader during the civil disturbagency by the City of Orem and ances of the Vietnam era. He the State of Utah, to conduct retired from the LAPD in 1972 private investigations and poly- after more than 20 years of servgraph exainations. Proctor Inves- ice. tigation and Polygraphy specialAfter retirement, Proctor was izes in fraud and losses for the the assistant director of developprivate sector and provides inves- ment for Brigham Young Univerfor attorneys, sity. Later he was selected from a tigative expertise and local, national, and interna- national to be superintional firms and corporations. tendent ofregister the Idaho State Police Proctor Investigation and PolygDepartment. While serving in this raphy has associates throughout capacity, he was instrumental in the United States as well as bringing the agency to a high peak France, Italy and England. of efficiency and professionalism, Proctor, originally from Los An- authorities said. geles, commanded an elite force Proctor was then selected to of investigators while with the Los head the Utah State Bureau of Angeles Police Department, Ram Medicaid Fraud. LAKE CITY Barbara Beatty of Sandy has been named store manager for the Orem University Mall Bell PhoneCenter, by American Bell Consumer Products, part of the new AT&T subsidiary that began offering communications and information handling equipment and systems to homes and businesses on Jan. 1. 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