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on that account were Mrs. Comey’s name, residence, and Social
Security number, respectively; there was no indication on the
account that Mrs. Comey held the Capital Fund shares as agent or
nominee for anyone. Although the sales proceeds were
subsequently deposited in a checking account maintained in
Landtrak’s name, this was part of a plan to send the proceeds to
Switzerland.
We conclude that the Assignment Separate From Certificate
and the various notations in Mrs. Comey’s handwriting are not
reliable evidence of any transfer of the Capital Fund shares.
Other than these documents, and the testimony of (and a few
documents prepared by) Mr. Comey, which we find incredible, there
is no evidence of any transfer of the Capital Fund shares to
Landtrak.
For all these reasons, we conclude that Mrs. Comey did not
transfer her Capital Fund shares to Landtrak on January 1, 1987,
or at any later time. To the contrary, we conclude that Mrs.
Comey owned the Capital Fund shares when they were sold.
Mrs. Comey’s Nominee Assertions
Although Mrs. Comey admits that she was the registered owner
of the Capital Fund shares at the time of their sale, she asserts
that she had transferred beneficial ownership of the shares to
Landtrak in 1987. In essence, Mrs. Comey claims that she held
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