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Q Mr. Wadsworth, are you going to claim the Fifth
Amendment for each and every question that I ask of you
regardless of what the subject matter of that question
is?
A Fifth Amendment.
The Court: Any further questions?
Ms. Ravi: No further questions, Your Honor.
The Court: The witness will step down.
Respondent's next witness was Carolyn Stello (Ms. Stello).
Ms. Stello is the owner of Collection Services (Services) and has
worked at Services since 1985. Services collects the interest
due on notes and deeds of trust executed by buyers of property
and distributes the income to the sellers (beneficiaries).
In December of 1987, petitioner became a client of Services.
He has two accounts at Services on which he is an income
beneficiary.
On July 1, 1986, petitioner and his wife, Charlotte N.
Wadsworth (Charlotte), signed an exclusive authorization and
right to sell agreement with Stello Real Estate, Inc. to sell
property located in Los Angeles, California, in which they
possessed an undivided interest. The agreement provided, in
part:
2. Terms of Sale: The purchase price shall be sixty-
four thousand and no/100 ($64,000), to be paid as
follows ($16,000 total down payment (25%), buyer to
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Last modified: May 25, 2011