- 5 - acquisition of the Wedtech shares; and (5) perjury in connection with falsely testifying before a grand jury. The Wedtech shares were not delivered to petitioner, but were delivered to his son, Richard Biaggi (Richard), who received the Wedtech shares as petitioner’s nominee. Richard was convicted of filing false income tax returns by overstating his income to include the receipt of the Wedtech shares on his 1983 return and reporting gain from the sale of 25,000 shares on his 1985 return. For a detailed discussion of the facts leading to the convictions of both petitioner and Richard, see United States v. Biaggi, 909 F.2d 662 (2d Cir. 1990). In that case, the Court of Appeals for the Second Circuit affirmed the convictions of petitioner on all counts and Richard for filing false income tax returns for 1983 and 1985. The underlying criminal case against petitioner and Richard was designated United States v. Biaggi, No. 87 Cr. 265 (S.D.N.Y., Nov. 18, 1988) (the criminal case). Petitioner is collaterally estopped from contesting the facts established in the criminal case.1 1 By the answer, respondent set forth his defense of collateral estoppel, based on the criminal case and barring petitioner from denying certain facts (the estoppel facts) established in that case. See Rule 39. By the reply, petitioners denied the applicability of collateral estoppel. Subsequently, in Petitioners’ Opposition to Respondent’s Motion for Partial Summary Judgment and Cross Motion for Summary Judgment in Petitioners’ Favor (the opposition), petitioners (continued...)Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
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