Kaptain X - my apologies - I believe Securities Lending Arrangement is actually the correct term.
So what have we here now?
I know of some people that not only invested in SLA's but also the Sentinnel tax debacle!!
Looks like this time around not only will the tax man be going after the unfortunate fools that were talked into this totally and obviously dubious scheme but also those that promoted and participated (as middlemen).
I reackon some guys on this scheme alone are up for over $300-400,000 in back taxes!