Henry Deletis, Jr. - Page 4

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          obtained for these new cars.  These loan payments totaled                   
          $4,448.85 in 1966 and $32,099.38 in 1967.                                   
               Petitioner also sold some of the dealership's used cars                
          directly to used car dealers, without fictitious intermediate               
          buyers.  During 1967, petitioner sold 38 used cars to dealers               
          Herman Weisberger (Weisberger) and Morton Best (Best) for which             
          he received $59,830.  Petitioner sold an additional 23 used cars,           
          whose value totaled $55,525, to other dealers during 1967.                  
               In November of 1967, Caplan consulted with the Buick                   
          Regional Office concerning the dealership's cash flow problem;              
          the amount of cash was not commensurate with the volume of                  
          business that was apparently being done.  Thereafter, the                   
          dealership conducted a physical inventory of its cars.                      
          Petitioner assisted by providing a list of those used cars that             
          he had sold without remitting the proceeds to the dealership.               
          Caplan discharged petitioner on or before December 1, 1967.                 
          Petitioner, Weisberger, and Best offered to make restitution to             
          the dealership for the stolen proceeds.  On December 8, 1967,               
          Caplan sent a letter prepared by his attorney to the dealership's           
          insurance company reporting the loss.  On December 11, 1967, Best           
          provided Caplan with a list of 38 cars that Best had purchased              
          from petitioner without receiving State of New York Department of           
          Motor Vehicle Certificates of Sale (Forms MV-50).2  The                     

          2 Apparently, the seller is to issue the Form MV-50 to the                  
          purchaser in order for the purchaser to have title to the                   

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