Michael J. Fitzpatrick - Page 7

                                        - 7 -                                         

          Ridgewood, New Jersey (Citizens Bank).  All deposits to the Hill            
          account were transferred from the R&S checking account with the             
          exception of loan proceeds in the amount of $40,000 deposited to            
          the Hill account on November 24, 1982.  In 1982, the below-listed           
          disbursements, which inured to the personal benefit of                      
          petitioner, were made from the Hill account:                                
          Disbursed      Amount      Payee                  Purpose                   
          2/3/82         $28,903   FBF Winery     Winery partnership with             
                                                  petitioner's brother in             
          2/28/82        35,000    Mary Fusco     Petitioner's purchase of            
                                                  residence located in City           
                                                  Island, New York                    
          5/5/82         20,000    Elaine M.    Repayment of loan to                  
                                   Fitzpatrick    petitioner's mother                 
          During February and March of 1982, the Hill account had a mailing           
          address of 313 Columbus Avenue, New York, New York.  The monthly            
          statements for February and March were undeliverable at that                
          address, and the statements were thereafter picked up by                    
          petitioner's father, who was an employee of Citizens Bank.                  
               On September 16, 1982, petitioner, acting on behalf of the             
          Bank, was a signatory to a Building Loan Agreement with Long                
          Wharf.  The agreement authorized the release of $3,115,000 in               
          construction loan proceeds to Long Wharf.                                   
               On September 27, 1982, Landing made a $50,000 payment to               
          Pares Y Nones, S.A., a Panamanian corporation, because petitioner           
          had enabled the Long Wharf loan closing to take place in spite of           
          the fact that Long Wharf did not have any coastal zone management           

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  Next

Last modified: May 25, 2011