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ITG attempted to export or ever exported any automobiles from the
United States to Venezuela.
In September 1993 and again in March 1994, petitioner
traveled to Florida to speak with Mr. Jasbon about the
possibility of entering into a business opportunity in
Switzerland. Petitioner returned to Florida sometime in June
1994 “to get some answers” from Mr. Jasbon regarding the funds
petitioner had sent him in January 1993. Once in Florida,
petitioner learned that Mr. Jasbon had moved. In 1996,
petitioner had a telephone conversation with Mr. Jasbon regarding
another business opportunity. During this conversation Mr.
Jasbon promised to repay petitioner. After this telephone
conversation, petitioner faxed a business proposal to Mr. Jasbon
for his review; however, Mr. Jasbon did not respond. Petitioner
and Mr. Jasbon had no further communications after 1996.
On April 1, 1994, ITG’s corporate charter was terminated for
failure to pay corporate dues. After March 1994, petitioner did
not perform any duties as ITG’s senior corporate vice president.
Secured Creditor Status
On July 7, 1983, petitioners sold two residential properties
to David P. Sparks and Wanda M. Sparks (hereinafter the debtors).
The properties were at 3513 and 3532 Buffalo Court in Woodbridge,
Virginia. Petitioners received two notes secured by two deeds of
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Last modified: May 25, 2011