- 14 -
There was no Chemical Traders office or plant at 128 Clinton
Avenue, Newark, New Jersey, when respondent's agents investigated
this case in 1971 and 1972. Respondent's agents did not find any
reference to Chemical Traders in a directory of chemical
suppliers.
Petitioner required Resyn's buyers to deliver their payments
to Chemical Traders to his home. The checks from one buyer
totaled as follows:
Year Amount of Checks Year Amount of Checks
1963 $24,276.40 1967 $38,254.00
1964 59,042.36 1968 - 0 -
1965 18,015.00 1969 2,766.35
1966 199,037.00 1970 15,600.00
Petitioner either cashed these checks or deposited them in the
Chemical Traders bank account.
Chemical Traders did not file income tax returns for the
years 1963 to 1970.
2. Amounts Petitioner Diverted From Resyn to Chemical
Traders
Petitioner diverted the following amounts from Resyn to the
Chemical Traders' checking account:
Monthly
Statements
Year Amount of Deposits Available
1963 $163,497.44 6
1964 297,115.19 11
1965 248,435.81 12
1966 526,815.33 12
1967 253,767.62 12
1968 66,554.58 12
1969 70,878.23 11
1970 15,600.00 11
Total $1,642,664.20
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