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3. The George K. Reaves Account
Mr. Reaves signed most of the checks in 1984, 1985, and
19883 drawn on the George K. Reaves account at First Citizens,
which totaled as follows:
Business
Year Personal Related Disputed
1984 $11,564 $0
1985 11,545 55,075
1986 17,628 50 $11,730
1987 71,849 31,358 19,151
1988 47,384 45,569
Total $159,970 $132,052 $30,881
We discuss the disputed checks next.
a. $11,730 Check Payable to Allstate Truck & Equip.,
Inc.
On December 26, 1986, Mr. Reaves wrote an $11,730 check on
the George K. Reaves account payable to Allstate Truck & Equip.,
Inc., to buy a lowboy trailer. Lumberton Paving used the
trailer. Lumberton Paving could not repay the $11,730.
b. $19,151 Check Payable to First Citizens
On March 23, 1987, Reaves Livestock bought a small old house
in Dillon, South Carolina (Dillon house) for Doug Grant (Grant),
a Reaves Livestock employee. Grant lived about 60 miles from
Rowland and wanted to live closer to work.
Mr. Reaves wrote a $19,151 check on the George K. Reaves
account payable to First Citizens to buy the Dillon house. Title
to the Dillon house was in Mrs. Reaves' name. Grant did not want
3 The record does not show who signed the George K. Reaves
account checks in 1986 and 1987.
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