- 5 - job if the bank learned that he was taking money from a trust client. Mrs. Millyard kept a checking account at Bank of America. When a trust client sought to remove money from a trust account, the client would be asked to complete a "Request for Transfer" form. Petitioner authorized numerous transfers from the trust to Mrs. Millyard's checking account. Mrs. Millyard wrote many checks for the benefit of petitioners, which were deposited into their accounts. Petitioner knew that checks in excess of $10,000 would have been noticed and investigated by Bank of America. Petitioner also knew that if any of the checks were made out directly to him, he would lose his job. Checks in amounts less than $10,000 would not appear on the bank's large item report. All of the checks written by Mrs. Millyard for the benefit of petitioners were under $10,000. Mrs. Millyard, on occasion, would write several checks to petitioners over a short period of time. While each check was less that $10,000, the total amount transferred to petitioners over such a period was substantially more than $10,000. On three occasions, Mrs. Millyard wrote multiple checks on the same day, the total of which exceeded $10,000; however,Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Next
Last modified: May 25, 2011