Srichai and Pusadee Rungrangsi - Page 3

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               At the time the petition was filed, petitioners resided in             
          Cerritos, California.                                                       
               Mr. Rungrangsi was born in Thailand in 1938.  He first came to         
          the United States in 1968 to attend Georgia State University where          
          he obtained a master's degree in economics.  After obtaining his            
          degree, Mr. Rungrangsi returned to Thailand to work for the Thai            
          government.  In 1979, Mr. Rungrangsi married and he returned to the         
          United States with Mrs. Rungrangsi and became a bartender in New            
          York.  In 1980, petitioners moved to southern California and  Mr.           
          Rungrangsi continued to work as a bartender; Mrs. Rungrangsi worked         
          as a registered nurse.                                                      
               After moving to California, petitioners began investing in             
          real estate.  In 1984, they acquired commercial property in Long            
          Beach, California, and in 1987, they acquired a residence.  In              
          1989, petitioners acquired a minimarket business in South El Monte,         
          California, with the equity from their house.  They invested                
          approximately $120,000 to purchase the minimarket, but had                  
          insufficient funds to purchase inventory.    Consequently,                  
          petitioners borrowed funds from Suvanee Eagatatt, a friend of Mrs.          
          Rungrangsi.  Ms. Eagatatt obtained a home equity loan of $96,000            
          and lent the proceeds to petitioners without interest.  Petitioners         
          were obligated to pay off the loan directly to Ms. Eagatatt's               

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