Steven K. Han - Page 54





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          $445,59827 and transferred the proceeds to ANB No. 1, a custodial           
          account governed by the TRO.  In January 1991, pursuant to the              
          settlement agreement, Northwest received $541,983 and petitioner            
          and his corporations received $1,925 from ANB No. 5 (which had              
          been funded with money transferred from ANB No. 1 through ANB No.           
          6).  See supra note 26.                                                     
               On April 11, 1988, petitioner transferred the Pan Am stock             
          to another personal brokerage account, P-B No. 2, which contained           
          the proceeds of the Gerber stock (diverted from a corporate                 
          account in 1987) as well as other assets of petitioner’s.  The              
          Pan Am stock was then sold on April 22 and May 20, 1988, for a              
          net of $104,143.28  On May 26, 1988, petitioner transferred                 
          $271,836 in cash from P-B No. 2 to ANB No. 2, a custodial account           
          governed by the TRO.  In January 1991, pursuant to the settlement           
          agreement in the Northwest litigation, Northwest received                   
          $323,017 and petitioner and his corporations received $3,749 from           
          ANB No. 2.  See supra note 26.                                              
               With respect to the transfers between the corporate Albank             
          No. 1 account and petitioner’s FCIS account, respondent                     
          determined that the “net” amount taken from and not returned to             

               27 Petitioner reported the loss from the sale of the Kodak             
          stock on his individual return; IL NA Tours did not report it.              
               28 The loss on the sale of the Pan Am stock was not reported           
          by petitioner or by IL NA Tours on their respective returns.                





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