Dennis C. Gandy - Page 19

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          Mrs. Gandy disbursed most of the other funds in cash, in bundles            
          of $100 bills, at petitioners' residence.                                   
          Bank Accounts                                                               
               During 1986, petitioners maintained two personal bank                  
          accounts at the First State Bank of Ben Wheeler styled "Carolyn             
          or Dennis Gandy" (account No. 80-0255-0 and account No.                     
          29-8816-0).  During the 10 days in March 1986 that account No.              
          29-8816-0 was open, petitioners deposited two checks from                   
          mortgage borrowers and one nursery check in the amount of                   
          $13,871.25; they closed the account and transferred the balance             
          to open account No. 80-0255-0.  During the approximately 4-month            
          period during 1986 that petitioners used account No. 80-0255-0,             
          they deposited a total of $428,285.42, including the transfer of            
          $15,052.60 from account No. 29-8816-0, proceeds of 13 checks from           
          mortgage borrowers, two nursery checks, and five deposits of                
          currency, the largest of which was $10,000; they distributed the            
          majority of the funds to mortgage borrowers.                                

















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