EX-BILLIONAIRE BOYS CLUB LEADER ADMITS TO LYING IN '83 DEPOSITION.

Byline: Janet Gilmore Daily News Staff Writer

Prosecutors cross-examined Billionaire Boys Club leader Joe Hunt for more than 90 minutes Thursday, raising questions about his credibility and business dealings.

In his second day on the witness stand, Hunt acknowledged that he lied under oath in 1983 during a deposition in a civil case - to save face, he said, about his personal background and early investment failures.

But when prosecutor Andy McMullen offered additional examples of inconsistencies, Hunt said he had no clear recollection of ``all the things I lied about'' at that deposition.

Hunt was convicted of murder in 1987 and sentenced to life in prison for the June 1984 slaying of Beverly Hills con man Ron Levin.

He is appearing in Los Angeles Superior Court seeking a new trial on grounds that he had ineffective assistance of counsel at his trial. He also has presented witnesses who claim they have seen Levin since 1984.

Levin's body was never found.

On Wednesday Hunt claimed that the prosecution's theory of the case - retaliation for Levin conning him out of money when the BBC was in dire financial straits - made no sense because the BBC stood to make millions of dollars from a new business venture.

But prosecutors, calling their first few witnesses, suggested that the venture was not a sure thing and plagued with potential problems.

Under cross-examination Hunt admitted that he owed investors up to $1 million for a fraudulent scheme the BBC operated in another business dealing.