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Because petitioner’s argument relies on the premise that all of
the funds transferred from corporate accounts were accounted for,
it must fail.
Petitioner next argues that his making a personal guaranty
of his corporations’ debts to Northwest (as requested by
Northwest in March 1988) is inconsistent with respondent’s theory
that he transferred corporate funds to personal accounts for his
own benefit, and not as an agent of the corporation. As
petitioner observes on brief: “What would be the point in
putting corporate money in a personal account and then subjecting
the personal account to the corporate debt?” A close examination
of the record in this case provides an answer to petitioner’s
rhetorical question; namely, by the time petitioner signed the
Guaranty on March 18, 1988, he had succeeded in transferring the
bulk of the funds at issue into an account in his brother’s name;
i.e., the Sam Han account. Of the $986,856 at issue, $450,000
was in the Sam Han account, $300,000 of which was moved there
from corporate accounts in early 1988. An additional $150,000
that had been earlier moved from corporate accounts to accounts
in petitioner’s own name was moved on March 8 and 9, 1988, to the
Sam Han account. Then, on March 17, 1 day before he signed the
Guaranty, the Kodak stock-–which had been purchased with $488,877
of the remaining funds at issue–-was transferred from
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