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promissory note reflecting his capacity as YOC's president and as
personal guarantor of the note.
On September 28, 1984, Barnett Bank approved the $80,000
loan application and issued a check for $79,880 to YOC
representing the net loan proceeds. The loan proceeds were used
to pay the remaining balance due to Ponce for purchase of the
Capriole. The Capriole was used as collateral for the $80,000
loan.
Ponce understood that Elvin, not YOC, was purchasing the
Capriole. Elvin located the Capriole, negotiated for its
purchase, created false documentation to make it appear as if YOC
received the Capriole in trade on the purchase of a new
automobile, and used the loan proceeds to make the purchase.
On the Florida State sales tax receipt regarding purchase of
the Capriole, the purchase price of the Capriole was reported as
only $40,000 instead of the actual purchase price of $80,000.
The record does not reflect whether YOC or Elvin paid the sales
tax relating to the Capriole.
On the registration and the title documents relating to the
Capriole, Elvin indicated that the Capriole was owned by YOC but
also that the Capriole was to be used for "pleasure". On YOC's
log and guest register, Elvin, not YOC, was indicated as owner of
the Capriole.
The Capriole was listed on YOC's books and records as an
asset included in YOC's used car inventory. During 1984 and
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