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least $190,240 to Taxman. Petitioner controlled the amounts that
WFIC transferred to Taxman.
On November 26, 1990, WFIC registered the trade name “Epic
Real Estate” with the State of North Dakota. In 1990, petitioner
inquired of the NDREC whether it was permissible for him to
advertise under the name Epic Real Estate as a division of WFIC.
He was informed that it was, but that he could not advertise
solely as Epic Real Estate while operating through a corporation.
In a letter dated February 19, 1992, petitioner informed the
secretary of the NDREC that “Epic Real Estate” would no longer be
a division of WFIC but a sole proprietorship under petitioner’s
broker’s license. On February 19, 1992, petitioner filed an
official notice of change of address and name with the NDREC,
showing a change of business name from “West Fargo Investment
Corporation d/b/a Epic Real Estate” to “Epic Real Estate”. Also
in February 1992, petitioner changed the name on WFIC’s trust
account, without the knowledge or approval of WFIC’s shareholders
or directors, from “West Fargo Investment Corporation d/b/a Epic
Real Estate” to “James O. Jondahl d/b/a Epic Real Estate”.
Petitioner renewed his broker’s license for 1993 using the name
“Epic Real Estate”. On September 24, 1993, petitioner changed
the business name with the NDREC back to “West Fargo Investment
Corporation d/b/a Epic Real Estate”.
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Last modified: May 25, 2011