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information on the receipts does not correspond to the
information in the diary.
Petitioners were married in 1941. At the time of trial,
they were still living together, and there is no evidence that
they were at any time separated.
Mrs. Kelly did not complete high school and took no formal
courses in business or finance. Before her marriage to Mr. Kelly
and the birth of petitioners' son Edward in 1945, she worked as a
telephone operator, dancer, typist, and airline stewardess.
After 1945, she was a full-time homemaker, responsible for the
upkeep of the family home and for paying bills for household
expenses. Edward was born with Down's Syndrome. As his health
deteriorated during the 15 years before his death in October
1989, he lived at home under Mrs. Kelly's constant care or in the
hospital, where she attended him. During this period Mrs. Kelly
was thoroughly preoccupied with Edward's condition and needs for
care and seems to have had no interest in discussing financial or
business matters with Mr. Kelly.
Mrs. Kelly was aware that her husband was employed by
Shearson Lehman as a stockbroker. But they did not discuss his
business. Although Mr. Kelly spent a considerable amount of time
at home doing work related to his options trading and made no
efforts to conceal his activities from her, she remained entirely
ignorant of these activities and of the losses he incurred. When
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