- 13 -
Mar. 17, 1969 13,000
Apr. 18, 1969 5,500
May 21, 1969 12,000
Jun. 20, 1969 8,000
Jul. 25, 1969 13,000
Sep. 19, 1969 5,000
Sep. 30, 1969 15,000
Oct. 8, 1969 10,000
Oct. 23, 1969 5,000
Oct. 31, 1969 5,000
Nov. 14, 1969 6,000
Nov. 29, 1969 5,000
Dec. 22, 1969 5,000
The checks were negotiated in the year written.
D. Chemical Traders
1. Petitioner's Formation and Use of Chemical Traders
On May 31, 1955, petitioner and his brother, Jesse Levitt,
registered the trade name Chemical Traders with the State of New
Jersey. The trade name certificate stated that Chemical Traders
would do business at 128 Clinton Avenue, Newark, New Jersey.
Petitioner opened a Chemical Traders bank account on November 20,
1959. Chemical Traders had a checking account at the National
State Bank, Hillside, New Jersey, from 1963 to 1970. Petitioner
signed the signature card for the account and personally
conducted Chemical Traders' transactions at the National State
Bank. Chemical Traders monthly bank statements did not have a
mailing address. Petitioner picked up the Chemical Traders'
monthly bank statements and canceled checks. Philbin, Levenson,
and Goldstein did not know about Chemical Traders or the Chemical
Traders bank account at the National State Bank during the years
in issue.
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