Kenneth A. Weiner - Page 3

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                                     Background                                       
               Petitioner petitioned the Court on January 11, 1993, to                
          redetermine respondent's determination of deficiencies and                  
          additions.  On August 18, 1993, this case was calendared for                
          trial at the trial session commencing on January 24, 1994.                  
          Beginning in November 1993, petitioner filed with the Court seven           
          separate motions for continuance.  The Court granted the seventh            
          motion on July 18, 1996, and this case was calendared for trial             
          at the trial session commencing on April 14, 1997.                          
               On January 29, 1997, respondent served petitioner with                 
          requests for admission.  The admissions requested were, in                  
          pertinent part, as follows:                                                 
                    3.  The petitioner filed an individual income tax                 
               return, Form 1040, for each of the years 1984 and 1985.                
               He reported gross income of $46,825.00 for 1984 and                    
               $73,762.00 for 1985, and reported tax liabilities of                   
               $7,783.00 and $21,979.00 for 1984 and 1985,                            
               respectively. * * *                                                    
                    4.  The petitioner * * * was charged with multiple                
               counts of wire fraud under 18 U.S.C. �1343, mail fraud                 
               under 18 U.S.C. �1343, interstate transportation of                    
               property taken by fraud under 18 U.S.C. �2314,                         
               conspiracy to defraud the United States under 18 U.S.C.                
               �371, and filing false income tax returns under 26                     
               U.S.C. �7206(1) for the years 1984 and 1985 * * *.                     
               *    *       *      *         *       *      *                         
                    6.  The petitioner's objective [in conducting the                 
               investment scheme] was to defraud the United States by                 
               conducting the financial and banking activities of the                 
               investment scheme in a manner which was not readily                    
               traceable, by failing to maintain records of the                       
               financial activities of the investment scheme, and by                  
               failing to report to appropriate government agencies                   




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