Nariman Teymourian - Page 4

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          B.A. in business administration, a master’s degree in taxation,             
          and has been a certified public accountant (C.P.A.) for 20 years.           
          Mr. Rolling personally prepared petitioner’s and Caspian’s tax              
          returns for the years in issue, and he also provided general                
          advice to petitioner and Caspian on tax, accounting, and other              
          financial matters.                                                          
               During 1999, petitioner applied for a residential loan.  In            
          connection with that loan, petitioner and his wife, Gail S.                 
          Ferrando-Teymourian (Ms. Ferrando-Teymourian), signed a Uniform             
          Residential Loan Application (loan application).  The loan                  
          application was not personally filled out by petitioner, but                
          instead was prepared by Reza Zargari of Gateway Residential                 
          Funding.  On the loan application, under “VI. Assets and                    
          Liabilities, Schedule of Real Estate Owned,”  petitioner reported           
          that he had net rental loss of $948 from property located at 94             
          Grand Street4 in Redwood City, California (Redwood City house),             
          and net rental income of $1,350 from property located at 1271               
          Granville in Los Angeles, California (Los Angeles condominium).             
          At the time the loan application was filled out, petitioner’s               
          primary residence was the Redwood City house, and petitioner’s              
          parents lived in the Los Angeles condominium.                               

               4  On the loan application, due to a typographical error, 94           
          Grand Street appears “94 Grant Street.”                                     

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