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Cattalo received a loan advance of $4,000 from the credit union.
On August 6, 1983, Cattalo purchased a 1983 Ford cargo van
for $11,222.94. Cattalo paid $5,000.94 in cash at the time of
the sale and financed the remaining $6,222. The van as purchased
from the dealer was a stripped-down model, which Cattalo had
customized elsewhere.
Petitioner Grove
Grove opened accounts at Hopper Soliday for himself and his
wife, and for his daughters. He conducted all the transactions
for these accounts. He used William Johnson as his broker,
having been referred to him by Wilson.
Grove made the following stock purchases through Hopper
Soliday:
Payment
Date Title Owner Amount/Type Stock
Sept. 10, 1980David & Maryann Grove $1,010.71 checkMCI
Nov. 22, 1982 David & Maryann Grove 1,001.35 check Chronar
Feb. 7, 1983 D. Grove c/f Francine Grove1,490.48 cash Chronar
June 7, 1983 D. Grove c/f Francine Grove2,123.04 cash Contracap
Aug. 24, 1983 D. Grove c/f Jordan Grove 3,012.48 check PECO, AT&T
The November 22, 1982, purchase of Chronar stock in the name of
David and Maryanne Grove was paid for by a check, dated November
19, 1982, written on the checking account of Alan Grove, Grove's
father. On November 19, 1982, a $1,000 cash deposit was made
into the checking account of Alan Grove.
On or about February 14, 1983, Grove purchased stock through
the brokerage house of Quick & Reilly by paying $2,590 in cash.
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