Walter Van Eck and Friedgard Van Eck - Page 20

                                       - 20 -                                         
          Walter signed all of the checks drawn on FIB 1276 during 1986 and           
          1987.  On March 9, 1987, a check in the amount of $10,000 drawn             
          on an account of William's at First Bank of New Haven was                   
          deposited to FIB account 1276.  On March 19, 1987, a check drawn            
          on FIB account 1276 to Walter Van Eck was deposited to an account           
          of Friedgard's at U.S. National Bank.  The $10,000 amount shown             
          on Exhibit 201-GK in the row labeled "WFVE Loans" reflects the              
          deposit into FIB account 1276, on March 9, 1987, of the $10,000             
          check drawn on William's account at First Bank of New Haven.                
               The amounts shown on Exhibit 201-GK as WFVE Loans and WFVE             
          Gifts (the WFVE Loans and Gifts) represent deposits to bank                 
          accounts under the control of Walter:  in essence, Walter's                 
          accounts.  Respondent's arguments with respect to the WFVE Loans            
          and Gifts are precisely the same as with respect to the GVE                 
          Loans, and our response is precisely the same.  The WFVE Loans              
          and Gifts do not constitute items of gross income to Walter.                
               6.  Reprographics Plastics Deposits                                    
                                  FINDINGS OF FACT                                    
               On October 30, 1985, a checking account in the name of                 
          Reprographics Plastics Corporation (Reprographics) was opened in            
          Oregon, at U.S. Bank, account number 155-0010-894 (USB account              
          0894).  Walter prepared and signed all checks, made all of the              
          deposits, and maintained all of the bank records for USB account            

Page:  Previous  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  Next

Last modified: May 25, 2011