- 26 - 2001) to convert the original dwelling on the Rivercliff property into a storage facility so that petitioner could continue using it as a dwelling until the new home was completed. In 2000, NCPL wire transferred to SSI a total of $2,742,794 for the development of the Rivercliff property and a total of $38,800 to Kumiko Talmage for petitioner’s spousal and child support obligations. Petitioner did not report any of the transferred funds as income on his Form 1040 for 2000 (2000 return). On December 19, 2000, Mr. Seki purportedly mailed a letter to petitioner’s address stating NCPL had lent the Talmages $4,856,172 for the development of the Rivercliff property pursuant to the January 25, 1999, loan agreement.8 On January 15, 2001, Mr. Seki purportedly mailed a letter to Kumiko Talmage, which stated: Dear Kumiko-san, I am again writing in follow-up to my notice to you of the 14th of November 2000. As of the date of this letter, I have not yet received any response from you (either directly or via Ronald) regarding my call for security on the very sizable loan I have extended to you and Ronald for your Oregon property. I thus regard your lack of response as a negative and as your having the intent to obstruct my lawful right to security on the said loan. 8 The $4,856,171.94 includes only the amounts NCPL wire transferred to SSI and does not include the $249,193 TPPL wire transferred to SSI in 1998 or any amounts petitioner may have paid SSI directly.Page: Previous 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 NextLast modified: March 27, 2008