Walter Van Eck and Friedgard Van Eck - Page 14

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          were deposited to Conn. account 7044 except for $2,500 and $500             
          deposited to USB account 2221 in 1983 and 1984, respectively.  Of           
          those amounts, the following amounts constitute fees for                    
          management services rendered by Walter:                                     
                              Year           Amount                                   
                              1982           $2,072                                   
                              1983           757                                      
                              1984           1,527                                    
                              1986           303                                      
                              1987           1,887                                    
               The label "GVE Loans" stands for Gertrude Van Eck loans,               
          which, respondent argues, is a misnomer.  Respondent discusses              
          the GVE Loans as follows:                                                   
               Walter Van Eck never provided the Court with a summary                 
               of all of the loans he allegedly obtained from Gertrude                
               Van Eck during the tax years at issue.  Respondent has                 
               never undertaken the Herculean task of determining the                 
               alleged loan amounts from Walter Van Eck's records.                    
                    The heading [GVE Loans], instead, largely refers                  
               to the number of deposits which were made into Walter                  
               Van Eck's Connecticut account, Conn-7044.  * * *                       
               Respondent initially understood that the Conn-7044                     
               account was exclusively used as a loan account between                 
               Gertrude and Walter Van Eck.  Respondent accordingly                   
               deemed all of the deposits into Conn-7044 to be alleged                
                    Respondent subsequently discovered that the Conn-                 
               7044 account was also used for a variety of other                      
               purposes.  It was used to transmit funds allegedly                     
               originating from William Van Eck to Walter Van Eck.  It                
               was also used as a vehicle for transferring funds from                 
               Connecticut to the Oregon bank accounts to satisfy                     
               expenses arising from the rental properties belonging                  
               to William and Gertrude Van Eck.  * * *                                

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