- 4 - other encumbrance on the Lampe home. As of March 3, 2005, the Lampe home had an approximate fair market value of $183,000. Petitioner had a balance of approximately $25,000 in her retirement account at Skaggs Community Hospital as of the date of trial. In addition, petitioner owned a 1993 Ford Explorer at the time of trial. Petitioner had no other assets of significant value. Petitioner’s Account at Refco The commodities trading account in petitioner’s name with Refco was opened in 1979 under her Social Security number by Mr. Campbell. Mr. Campbell directed the trading activity in this account. During the taxable year 1983, petitioner had a net gain of $3,505,382 from trades in her Refco account. Petitioner did not have knowledge of this gain. The account statements showing the gains and losses in petitioner’s account were addressed to petitioner and mailed to her home address; however, petitioner asserts that she did not open them. Petitioner stated that she handed over the unopened statements to Mr. Campbell. Petitioner maintained one or more commodity trading accounts with Refco until at least December 31, 1989. Petitioner never had any control over the funds in her Refco account. An examination of her statements from Refco reveals a fluctuating balance, evidencing a constant inflow and withdrawal of funds. The only access petitioner had to her account wasPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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