- 101 -
A Yes, sir.
Q Does that show there?
A Yes, sir. Those are reflected in the columns
above, 10, 11, and 12.
Q So then the source of this $140,000 unknown
deposit on ledger card 70501, on 93-R, is the loan from
Mr. Margolis?
A Yes, sir.
Unlike petitioner’s testimony with respect to the deposit of
$84,521.63 on September 16, 1986, petitioner’s testimony with
respect to this deposit cannot be substantiated with the
testimony of other witnesses or with evidence of record.
Petitioner did not call Richard Margolis to testify, and he did
not submit any evidence or documentation to show that the
$140,000 Dean Witter check was a loan from Mr. Margolis.63
Accordingly, we find petitioner’s testimony to be self-serving
and of no assistance to him.
Petitioner expends considerable effort to establish that on
July 12, 1988, $97,893.78 was transferred from the Medlin/Prather
Ranch Property ledger card (no. 70501) to the Medlin/Partin
ledger card (no. 70042), and that on that same date, $97,893.78
was disbursed to Edward L. and Constance Partin, Mike Partin, and
63Petitioner cites the testimony of Revenue Agent Sherri
Blackton that petitioner would at times borrow funds which were
secured by giving a deed to the property with an option to buy
the property back. However, this does not establish that
petitioner engaged in this type of transaction with Richard
Margolis on this particular occasion.
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