River City Ranches #1 Ltd., Leon Shepard, Tax Matters Partner - Page 73

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          determine whether any illegal activity occurred in Oregon                    
          sufficient to establish petitioners were the victims of a theft.             
               We believe that petitioners equate the ORS section 164.085,             
          theft by deception statute, to the Federal conspiracy to commit              
          fraud and mail fraud statutes Jay Hoyt was convicted of                      
          violating.  To violate the Oregon theft by deception statute, a              
          person, with intent to defraud, must obtain the property of                  
          another by:  (1) Creating or confirming another’s false                      
          impression of law, value, intention or other state of mind which             
          the actor does not believe to be true; (2) failing to correct a              
          false impression which the person previously created or                      
          confirmed; (3) preventing another from acquiring information                 
          pertinent to the disposition of the property involved; (4)                   
          selling or otherwise transferring or encumbering property,                   
          failing to disclose a lien, adverse claim or other legal                     
          impediment to the enjoyment of the property; or (5) promising                
          performance which the person does not intend to perform or knows             
          will not be performed.  Therefore, to establish a theft under the            
          Oregon statute cited by petitioners, they must prove that Jay                
          Hoyt, with intent to defraud each partnership by means of at                 
          least one of the five methods stated in the theft by deception               
          statute, deceptively obtained partnership property each year from            
          each partnership equal to the amount of total cash the investors             
          contributed in each of those years.                                          






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