- 37 - they would withdraw cash from their personal savings account at AmSouth and would use the money at Justins to cash customers’ payroll checks. Petitioners would deposit the customers’ paychecks into Crabtree Investments’ business account at First Union, write a check for cash in that amount, and start the process at Justins over again. Eventually, they would redeposit the original amount of money into their personal savings account at AmSouth. As mentioned above, virtually all of Crabtree Investments’ original records were destroyed by fire. As a result, we cannot fully evaluate petitioners’ assertion that they used cash from their personal accounts in the bar. Our analysis of the statements from petitioners’ individual checking accounts tends to support petitioners’ explanation. Furthermore, the bank account statements suggest that the individual petitioners were losing money during the years in issue. In 1994, they deposited the “surrender proceeds” from shares in “The Growth Fund” in the aggregate amount of $41,584.87, and Mr. Eddie Crabtree deposited a check for $25,790.65, apparently the proceeds from the sale of real property. Nevertheless, during the years in issue, the balance in the account went from $82,284.35 to $9,274.19. Respondent does not assert that the withdrawals from the joint bank accounts increased thePage: Previous 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Next
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