-4-
Security number (530-23-2619) on both of the time deposit
certificates.
The $10,000 time deposit certificate had a maturity date of
May 24, 1984. Petitioner renewed it for an additional 14 days.
On May 17, 1984, petitioner applied for a $140,000 loan with
Valley Bank in his own name. He used the $666,720.68 time
deposit as collateral. He used the same incorrect Social
Security number (530-23-2619) on the loan application that he
used on the time deposit certificates.
Petitioner wrote to Valley Bank to tell it to use the
proceeds of the $666,720.68 time deposit to repay the $140,000
loan on a date not specified in the record.
On May 21, 1984, petitioner applied for a $500,000 loan from
Valley Bank in his own name. He used the $666,720.68 time
deposit as collateral. On the loan application, he used the same
incorrect Social Security number (530-23-2619) that he had used
before. On May 21, 1984, petitioner received a $500,000
cashier's check as the loan proceeds.
Petitioner wrote to Valley Bank and told it to use the
proceeds of the $666,720.68 time deposit to repay the $500,000
loan on a date not specified in the record. Petitioner asked
Valley Bank to deposit the remaining proceeds in the account of
A.C. Bingham & Associates.
On May 24, 1984, petitioner used the proceeds of the
$140,000 loan to buy real property in Yreka, Siskiyou County,
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