Terrell Equipment Company, Inc., et al. - Page 8




                                        - 8 -                                         
               11. From May 1988 through November 1989, Vernon and Janet              
          paid, with TECO checks, service charges to Glamour Pools for the            
          pool located at their personal residence.                                   
               12. On July 7, 1988, Vernon purchased a 1988 Toyota 4                  
          Runner for $23,047.01.  Vernon used a TECO check to pay part of             
          the purchase price.  The vehicle was titled to Vernon, insured as           
          a personal vehicle, and was driven exclusively by Vernon or                 
          members of his immediate family for personal use.                           
               13. In mid-1988, the Griffins had a fence constructed at               
          their personal residence.  On July 5, 1988, Janet wrote a TECO              
          check totaling $4,582.50 to Jim Young Fence Company to pay for              
          the fence.  This check was deducted as a “miscellaneous” business           
          expense on TECO’s books.                                                    
               14. On December 9, 1988, a $1,200 TECO check was used to               
          make a mortgage payment on Vernon’s sister’s house.  This check             
          was deducted as an “operating supplies” expense on TECO’s books.            
               15. On December 21, 1988, Vernon received a $1,900 check               
          from TECO.  This check was deducted as a “miscellaneous” business           
          expense on TECO’s books.                                                    
               16. In 1988, the Griffins backdated at least two checks.               
               17. In 1988 and 1989, contrary to normal practices, Vernon             
          failed to deposit receipts of TECO’s scrap metal sales into                 
          TECO’s business bank account.                                               
               18. During 1988, Vernon and Janet wrote TECO checks                    






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  Next

Last modified: May 25, 2011