Steven J. Romer - Page 3

                                        - 3 -                                         
          transferred $741,065 in life insurance proceeds that Votano                 
          inherited from her father.  Petitioner was designated as trustee            
          of this trust, and it was intended by Votano that petitioner use            
          the $741,065 to purchase for the trust a suitable investment                
          approved by Votano.                                                         
               On November 9, 1988, petitioner transferred the $741,065               
          received from Votano into a "special" checking account in his               
          name at Chemical Bank.  The $741,065 was not transferred into one           
          of petitioner's client escrow accounts.                                     
               On or about November 10, 1988, petitioner purchased with the           
          $741,065 two certificates of deposit at Chemical Bank -- one in             
          the amount of $341,065 and the other in the amount of $400,000.             
          Although not completely clear from the record, it appears that              
          these certificates of deposit were purchased in the name of                 
          petitioner, not in the name of the Votano trust.                            
               On October 9, 1990, Votano delivered a letter to petitioner            
          in which she asked that her trust be terminated.  Petitioner                
          informed Votano that the two certificates of deposit that he had            
          purchased with the $741,065 had just been renewed and therefore             
          that the funds were not readily available.                                  
               On or about January 3, 1991, Votano received from petitioner           
          a letter in which petitioner falsely claimed, among other things,           
          that he had been diagnosed with an inoperable and incurable brain           
          tumor and that he had only 2 months to live, and petitioner                 
          correctly acknowledged in the letter that Votano's $741,065 was             

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011