- 4 - 1992. At the time their petition was filed, petitioners Christopher M. Shea and Kim A. Shea resided in Rochester, Michigan. Petitioners James P. Shea (James) and Christopher M. Shea (Christopher) are brothers who, during 1992, worked at a company called PK Contracting. PK Contracting (the company) was in the business of painting lines on roads. James, a vice president of the company, has worked for the company for more than 20 years and is a part owner of the company. As of the trial date, Christopher was the president of the company and ran the company’s day-to-day operations. In 1992, Christopher was the general manager, with similar operational responsibility.4 None of the petitioners were in the trade or business of lending money. The Russian Airplane Deal Sometime prior to January 19, 1992, James was introduced to Michael Donnelly by a friend. Donnelly, who claimed to be a retired U.S. Army major general, described a plan in which he and some others would buy Russian airplanes (Ilyushin-72s) for substantially less than their purported fair market value and resell them in the West for $5 to $8 million per airplane or use 4 Petitioners Patricia H. Shea and Kim A. Shea are involved in these consolidated cases only because they filed joint Federal income tax returns with their husbands for 1992.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011