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owned and operated Ava Anthony. Ava Anthony operated as a
C corporation during the years in issue. In 1996, Ava Anthony
owned land. In 1998, Ava Anthony purchased 10 gasoline stations
from Presto Food Stores for approximately $9 million and operated
them through 1999.
Bradshaw’s Employment by Petitioners
Beginning in May 1998, petitioners employed Bradshaw to do
the accounting for Mina of Sanford, Mina of Forest City, and
Shenody. This arrangement eventually expanded to include Ava
Anthony and Bishoy. Bradshaw did not do the accounting for
petitioners’ other business entities and had not done any other
work for petitioners prior to May 1998.
From the time that he began working for petitioners,
Bradshaw was aware that petitioners withdrew cash from the
corporate bank accounts of Ava Anthony, Mina of Sanford, Mina of
Forest City, Bishoy, and Shenody before he could reconcile those
accounts. Bradshaw was also aware that petitioners frequently
wrote checks from the corporate bank accounts of their business
entities and deposited them into their personal bank accounts.
Bradshaw advised petitioners to discontinue this latter practice.
The Mansours’ Income Tax Returns for 1996 through 1999
On their joint income tax return for 1996, the Mansours
reported the following sources of income:
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Last modified: May 25, 2011