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Mr. Gagliardi and his brother assisted Mr. Hunner in
preparing: (1) The gambling calendars showing most of Mr.
Gagliardi’s gambling activities for 1999 through 2001, (2)
summaries of Mr. Gagliardi’s living expenses for 1999 through
2001, and (3) net worth analyses of Mr. Gagliardi for 1999
through 2001 (based on records from those years). Mr. Gagliardi
reviewed the summaries of living expenses and net worth
statements to ensure they were complete and accurate.
Mr. Gagliardi and his brother assisted Mr. Hunner in
preparing a cashflow analysis with supporting documents for each
line item, including a related summary of living expenses for Mr.
Gagliardi, for 1999, 2000, and 2001 using records from the
respective tax years (cashflow analysis). The cashflow analysis
showed the following:
1999 2000 2001 Total
California lottery $666,500 $666,500 $666,500 $1,999,500
Less: Federal income tax(186,621) (186,623) (183,431) (556,675)
479,879 479,877 483,069 1,442,825
Sale of America funds 160,014 330,000 191,198 681,212
Interest and dividends 1,420 688 639 2,747
Prior year Federal income153,669 104,655 none 258,324
tax refund received
Form W-2G cash (casinos)127,073 270,052 631,629 1,028,754
Net cash available 922,055 1,185,272 1,306,535 3,413,862
Living expenses (331,341) (251,943) (210,334)(793,618)
Gambling losses claimed(502,433) (802,921) (1,170,140) (2,475,494)
Cash remaining 88,281 130,408 (73,939) 144,750
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Last modified: March 27, 2008