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LV 87-8351 ADMINISTRATIVE: Information copies are being furnished'to Houston would need in handling. future investigations, primarily the I information set forth on administrative pages below. Investigative period. in this case is extensive; and Houston have had difficulty in'attempting to contact. potential witnesses, in this case whose testimony is necessary in order' to 'clarify the entire case, Also. the possible. violation is not entirely clear and. has advised that. the only reason he is entertaining the. matter further is because of the involvement in this matter by REsniGK. has advised that since REsNIck is the principal in this 'matter he will take any possible, violation to prosecution. . For the information of the Bureau and auxiliary of background concerning the Notes involved in this matter. On 11/18/71, IRS Agent appeared at the Las Vegas Office. as a result of possible leads he had developed in connection with. a case he has under question. At this. time the following information was learned from IRs has an extensive and inyolved investigatioh concerning the Baptist Foundation, which organization is a complete scam and' from which apparently numerous indictments will flow, investigation regarding the Baptist Foundation has revealed that the Rocky Mountain Investment was set up with assets comorised solely of worthless stock of the Baptist Foundation. Jadvised that his. investi- gation was nearing completion and he anticipated his first and complete report covering said investigation would be completed shortly after the .middle of December, l97l. He also advised that this investigation would be submitted to the Los Angeles Strike Force and thus the results would be available to the FBr through this source. It should be noted that due to the suspected. reputation of. First Trust 'Company of Houston, that must have known that B COVER PAGE