Neil J. Christal, II & Kathryn E. Christal - Page 7

                                        - 7 -                                         

          Sovereigns checks (such as the amount, or category, of the check)           
          written on United Sovereigns' checking account.  After May of               
          1992, Alta issued bookkeeping reports prepared only by Mr.                  
          Bajgrowicz.  Alta issued the bookkeeping reports only to Mr.                
          Christal.  There is no indication that Ms. Menon ever challenged            
          any of United Sovereigns' expenditures.                                     
               During 1992, the employees of United Sovereigns were Mr.               
          Christal and Jacqueline Johanson (Ms. Johanson).  Ms. Johanson              
          was the administrative assistant.  In 1992, United Sovereigns               
          paid (as cash disbursements) approximately $4,800 to Mr. Christal           
          and approximately $17,100 to Ms. Johanson.  Mr. Christal reported           
          $6,000 in wages from United Sovereigns on his 1992 Form 1040 tax            
          return.                                                                     
               In 1992, the only vehicle used for United Sovereigns'                  
          business was a 1984 Volvo (the Volvo).  Mr. Christal did not                
          provide a mileage log for the use of the Volvo.  Amaranth owned             
          the Volvo and a 1989 Dodge Caravan (the Caravan).                           
               In 1992, United Sovereigns claimed automobile expenses in              
          the amount of $2,600 representing lease payments made to Amaranth           
          for the Volvo.  Amaranth and United Sovereigns, however, did not            
          have a written rental agreement with respect to the lease of the            
          Volvo.                                                                      
               On March 16, 1992, Ms. Menon signed United Sovereigns' check           
          2239 which was payable to Redwood City Dodge in the amount of               





Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  Next

Last modified: May 25, 2011