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Ferrentino cashed the Custom Decorating and fuel reimbursement
checks, Manufacturer's Hanover would generally cash the checks in
$100 denominations. During audit, Ferrentino told Revenue Agent
Oswald: (1) He did not report the cash hoard as income, (2) he
knew that the source of the cash hoard constituted taxable
income, and (3) he called the cash hoard pocket monies. At
trial, Ferrentino explained that he had accumulated the cash
hoard over a period of 15 to 18 years. He further testified that
the cash hoard resulted from the selling and restoration of
furniture and that he accumulated the cash hoard in anticipation
of his divorce.
Based on the amount of $100 bills presented to the Federal
Reserve Bank and the fact that Ferrentino received $100 bills
when cashing the checks at Manufacturer's Hanover, we may
justifiably infer that part of Ferrentino's cash hoard was
attributable to the cashed checks. We may further infer that
Ferrentino hoarded the cash to conceal income from his wife,
Carol Ferrentino, in order to avoid meeting the obligations
enumerated in the Separation Agreement. It is therefore fair to
apply to Ferrentino and his devious course of conduct what we
said in a prior case; namely, "that a man who will misappropriate
another's funds to his own use through * * * concealment will not
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