5 he sold four horses between 1987 and 1992 at an average of approximately $2,400 per horse. Petitioner's primary sources of ponies were area dude ranches, which would periodically bring a group of ponies to the ranch for petitioner to ride and try out. Petitioner would then purchase the ponies he thought had potential. Petitioner considered that it would then take as many as 6 years to train them. To showcase the ponies for sale, he would ride them at polo matches. Petitioner played polo, rode and trained the polo ponies in part, and hosted various social gatherings at the ranch. Petitioner enjoyed training and riding the polo ponies, and on one occasion stated that it was wonderful to get on a horse after a long day of surgery. The social gatherings often received publicity; petitioner considered that this type of publicity would attract clients to the medical corporation. Petitioner was a contributing editor of Polo magazine, which periodically printed articles by petitioner, as well as his picture and address. Petitioners spent on average 3 weekends per month at the ranch, as well as some weekday evenings. Mr. White saw to the day-to-day affairs of the ranch, but deferred to petitioner for any major decisions. Petitioner kept some records and paid bills. The records shown to the Court consisted of some receipts and canceled checks, handwritten logs kept since 1987, and typed summaries prepared by petitioner for each year. The logs contained one or two pages for each month, and listedPage: 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