- 4 -
business. Petitioner worked part time at Dillon Securities
during 1981 and 1982. Her responsibilities involved essentially
pedestrian tasks, such as manually entering stock trades in the
ledgers and ordering lunches.
Dillon Securities prospered during the years at issue, and
this success is reflected in Mr. Dillon's salary. Specifically,
Thomas Dillon's income from Dillon Securities was more than
$1 million in 1981 and nearly $420,000 in 1982. This income
allowed the Dillons to enjoy a high standard of living; for
instance, the family lived in a home with a swimming pool.
Further, the Dillons also owned a large number of "toys",
including an airplane, a helicopter, 13 cars, a boat and several
snowmobiles. Beginning in 1980, petitioner and Thomas Dillon
spent approximately $900,000 to purchase 40 acres of land on
Hangman Valley Road and built a house and barn on the property.
Also, during the years at issue, petitioner went on several
family vacations including two trips to Hawaii, one trip to
Mexico, and at least two ski trips to Sun Valley.
Petitioner trusted Thomas Dillon. During the years at
issue, Thomas Dillon generally handled the finances while peti-
tioner took care of their two children. Thomas Dillon maintained
a money market account (the Murphy Favre, Inc./Composite Cash
Management Company account, hereinafter the Murphy Favre
account), and statements of the activity in the Murphy Favre
account were received by Thomas Dillon at Dillon Securities. All
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011