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to Ms. Amarasinghe. However, for reasons not provided in the
record, Ms. Amarasinghe never received any funds directly from
Waddell & Reed.
As a result, in September of 2002 Ms. Amarasinghe petitioned
the Virginia Beach district court to hold Dr. Amarasinghe in
contempt for failure to comply with the Order. According to the
petition, Dr. Amarasinghe’s delinquent obligations included
$71,650 for child support and $32,400 for insurance premiums.
Furthermore, Dr. Amarasinghe had not paid the $24,043.80 lump-sum
spousal support set forth in the Order or any periodic spousal
support. On October 16, 2002, the Virginia Beach district court
held Dr. Amarasinghe in contempt and sentenced him to jail for 10
days.
The same day, Dr. Amarasinghe terminated his interest in the
Waddell & Reed Profit Sharing Plan and Trust (the Plan) and
requested a rollover of all his funds into an individual
retirement account (IRA) in his name that was established by
Waddell & Reed. Dr. Amarasinghe then requested a distribution of
all of the funds in his IRA, and Waddell & Reed issued nine
checks to Dr. Amarasinghe totaling $179,368. Dr. Amarasinghe
endorsed each of these checks to Ms. Amarasinghe’s attorney and
delivered them to her.
Dr. Amarasinghe and his spouse filed a joint 2002 Form 1040,
U.S. Individual Income Tax Return, in 2003. On the Form 1040,
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Last modified: March 27, 2008