- 2 -
FINDINGS OF FACT
Fatemeh Entezam (Ms. Entezam) and Majid Zahedi (Mr. Zahedi)
were married in 1985. During the years in issue, Mr. Zahedi
owned and operated three International House of Pancakes
restaurants. To assist Mr. Zahedi with the operation of the
restaurants, Ms. Entezam took accounting classes at San Diego
State University and on December 30, 1991, graduated with a
bachelor of science degree in business administration with an
emphasis in accounting. In 1990, Ms. Entezam began helping with
the operation of and record keeping relating to the restaurants
(e.g., she recorded the restaurants’ daily sales receipts). Ms.
Entezam’s father, uncle, and sister were also involved in the
management and operation of the restaurants. Ms. Entezam had
access to the restaurants’ books and records and was authorized
to write checks on, and make withdrawals from, the business
accounts.
On May 5, 1991, Ms. Entezam and Mr. Zahedi purchased an
$840,000 home. In relation to this purchase, in 1990 and 1991
they signed mortgage loan applications indicating joint annual
incomes of $237,996 and $321,036, respectively. On their 1990
joint Federal income tax return, however, Ms. Entezam and Mr.
Zahedi reported that they earned no salaries and had net losses
of $55,856; and on their 1991 joint tax return they reported that
Page: Previous 1 2 3 4 5 6 Next
Last modified: May 25, 2011