14-00000 sacle ete arr 2 enna tee ni tt aatoacnnnte oe me S += SURE JMWAVE COVER FACILITY “97 28 | Ceres Enterprises, Inc. ear vo i- rE -oggs§ : Suite 1409 Biscayne Building, 19 West Flagler Street, | 29 ja , Miami, Florida 33101 mS 30 I~ -.p9RESS : P. O. Box 5045, Main Post Office, Miami, Fla. 33101 = Office of Attorneys George E. Brown and Thomas B. Duff yom | _viCILITY: This corporation was established in Florida and 32 i certified to do business on 10 March 1964. It was i established by and is under the control of JMWAVE. 33 | The President of this corporation is Mr. Richard W. 34 iow Freeman, who is the retired Chairman of the Board ame of Delta Airlines. He is also the principal owner 35 | of the Coca-Cola Bottling Company in New Orleans. we! In addition he has many other varied interests 36 including investments in oil ventures. He is ex- 3 _ tremely prominent in the New Orleans civic and - aa io social structure. 34 | lf BUSINESS: This corporation was established ostensibly to 38 in maintain and operate boats for all types of marine a research. , vs This corporation provided cover for maritime mo 410 = vessels, the M/V BARB and the M/V JADE, and served — as the status and payroll mechanism for the agents 4l employed by this corporation. — 7 . 412; Method — This account is funded throuch the . : 7 ¥ ée following metho check in the total amount of the deposits is drawn on this account. A credit ticket is obtained by our cleared contact from the cash vault. This credit 18 | ticket together with the appropriate deposit slips ~ Pho, for the various corporations is then turned over 19 | to a teller, where it is combined with all other 50 48 transactions which are processed by that particular 20) teller on the given business day. Since the number ane of transactions handled by a given teller may go } 2. :°' as high as 250 to 300 there is slight chance of aa: | the deposits being attributed to the particular 22.0 45 credit ticket which accompanied these deposits. apo Overt Attribution or. = AY | 23)" 24) \ | joo
14-00000 6 cea SEGRE sAX STATUS : This is a corporation for profit. It has met federal and state tax requirements as follows: 1) Corporation Federal Income Tax Return 2) Federal Withholding and Unemployment Taxes 3) Florida State Unemployment Taxes 4) Florida Corporation Report and Tax Return 5) Florida Intangible Property Tax Return ‘GENT IDENTIFICATION: None at this time. SESSMENT OF VULNERABILITY: i. Maritime Branch Assessment dated 6 March 1967 - The cover mechanism established by the Ceres Enterprises, Inc. was very secure during the period of its operation and remained so until the loss of one of its agents who was captured in Cuba. This made it necessary to terminate the activities of this corporation and transfer its activities to another entity. This was accomplished without any unusual events or actual public exposure. If any should occur at this late date, the damage would be minimal. Cover Branch Assessment dated 6 March 1967 - This corporation is currently inactive and will become legally dormant after - three years. It was placed in this status due to an operational flap which could have exposed the corporation. The last active tax return was filed at the tax year ending March 31, 1966. An additional tax return will be filed for the past tax year which will indicate no financial transactions. Its assets and activities were transferred to other JMWAVE entities. This corporation was established to provide cover for a Maritime Branch vessel and status and payroll cover for the agents assigned to it. The corporation is inactive and will be allowed to remain so, It was placed in this status due to a flap wherein an agent was captured in Cuba who had knowledge of this vessel and its ownership. There was no public exposure in the Miami area. However, because of the past incident the corporation should not be used in the future under its current name. While in use the corporation served very satisfactorily for the purpose for which it was established. o