Leonard L. Leighton and Joyce S. Leighton - Page 3

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          was also engaged in law practice and other activities prior to              
          that time.  Petitioner was on the board of directors of a bank              
          known as Schertz Bank & Trust Co. from 1975 through 1987, and at            
          one time owned a controlling interest and was a director in said            
          bank.  Petitioner maintained a number of bank accounts at the               
          Schertz Bank in the names of himself, his law partners, his wife,           
          or in similar names showing involvement in professional activity.           
          Petitioner also maintained bank accounts in at least seven other            
          banks, which were likewise titled either in the name of himself,            
          his wife, his partners, or associated interests, and over which             
          he had control.  The principal account which petitioner                     
          maintained at the Schertz Bank, however, known as the "Leonard              
          Leighton, Attorney at Law", account, had checks drawn by both               
          petitioner or his wife, and was the depositary of many funds.               
               Using friends, and sometimes clients, as sources, from 1972            
          through 1988, petitioner promoted and managed more than forty               
          real estate ventures, sometimes called "joint ventures",                    
          involving raw land, apartment complexes, and motels.  His friends           
          and clients were the principal sources of investment in these               
          ventures, which were composed of different individuals who                  
          invested varying amounts of money in the various joint ventures.            
          Petitioner drew all necessary joint venture agreements and                  
          conducted all necessary negotiations regarding purchases and                
          sales in these ventures.  No two joint ventures had identical               






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