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Financial Condition as of November 15, 1990." He listed the
total value of his assets as $11,380,365. Included in his assets
were his business interests as follows:
Business Name % Ownership Market Value Cost
TV Cable de Leon 100% $3,500,000 $ 500,000
Monne-building owner 100% 300,000 140,000
Acoco-Cable Admin. 100% 210,000 120,000
Celsa-Cable Constr. 100% 210,000 120,000
Locator-Mexico 100% 500,000 500,000
Iisa-Commercial Bldg. 100% 700,000 650,000
$5,420,000 $2,030,000
Petitioner listed his "Sources of Cash" as: salary (gross),
$150,000; rental income, $888; dividend and interest income,
$160,000; and dividends and distributions from business,
$390,000. Petitioner's other assets included automobiles
consisting of three Mercedes Benzs and one Jaguar with a total
value of $215,000.
In November 1990, petitioner became interested in purchasing
a controlling interest in an automobile dealership. As part of
the negotiations, petitioner wrote a check for $50,000 to the
owner of the dealership. The deal was never completed, and
petitioner did not acquire an interest in the dealership.
Throughout 1990, petitioner received transfers of funds from
Mexico that totaled $867,738. He deposited the funds in various
accounts.
Petitioner became interested in purchasing a bank in San
Antonio, Texas. Petitioner filed an application with the Texas
Department of Banking to purchase the Bank of Leon Springs. The
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