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fact that Jay Hoyt used the partnerships as an integral part of
perpetuating fraud against individual investors through false
promises and false pretenses does not establish a theft on the
partnership level.
Petitioners cannot rely on Jay Hoyt’s conspiracy to commit
fraud and mail fraud convictions to establish theft from the
partnerships by inserting a different set of victims from those
stated in the indictment and proven at the criminal trial.
Because we determine that Jay Hoyt’s fraud was perpetrated on the
individual partners, we hold that his conviction for conspiracy
to commit fraud and mail fraud does not establish that a
partnership level theft occurred.
Petitioners make no mention of Jay Hoyt’s conviction for
bankruptcy fraud. As to this charge, Jay Hoyt was convicted of
knowingly and fraudulently (1) concealing property from
creditors, the U.S. Trustee, and other officers of the court, (2)
making material false oaths, accounts, and testimony, and (3)
making material false declarations, certificates, verifications,
or statements under penalty of perjury. There is no evidence in
the record that any of the property concealed was sheep
partnership property. Petitioners do not specifically assert,
the record does not contain evidence, nor do we find that the
conviction for bankruptcy fraud establishes a theft on the sheep
partnerships for any of the years at issue.
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