- 14 - On July 19, 1994, Mr. Strong obtained two cashier’s checks issued by Norwest Bank each in the amount of $8,500. The first made payable to Mr. Strong shows the payor was his brother, Sean Strong and was deposited to account No. 893315300 on August 16, 1994. The second was made payable to Mr. Strong, and Jack Thompson, the payor, is unidentified. It was deposited into account No. 893315300 on August 10, 1994. Before 1990, Mr. Strong was aware of the title 31 requirements that currency transactions in excess of $10,000 be reported to the Government. SCC’s Activity During the years at issue, SCC entered into vacant land purchase agreements and acquired real property in its name. Mr. Strong signed the purchase agreements as president of SCC. As part of the sales process, SCC entered into new construction purchase agreements with buyers. SCC also applied for building permits, which Mr. Strong signed as president of SCC. In addition, SCC entered into a builder’s security agreement and applied for a home buyer’s warranty on some of the 22 house sales. SCC was identified as the seller of the property on the settlement statements or closing statements prepared for the real estate property closings for the 22 house sales. Mr. Strong executed those statements as president of SCC. For the purpose of passing title to real property, Mr. Strong executed, asPage: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011