This accounting fraud is protected. The public is not. The public needs a free press to show how it works.
 
 
Bk467p191
(Estate's First Court Account at Book 467 pages 191 through 196)
[Bk467  0191 follows]
                            VIRGINIA: IN THE CIRCUIT COURT OF FAIRFAX             
IN RE: ESTATE OF JEAN M. O'CONNELL                          
                                                                                                   FIDUCIARY NO. 49160 
Date of Qualification: December 10, 1991
 
FIRST ACCOUNTING OF
EDWARD J. WHITE AND JEAN M. NADER
CO-EXECUTORS
September 15, 1991 - September 15, 1992

RECEIPTS
Inventory Items
 
ck Wash Gas Light Co. 8/1/91                                                             
105.00
 
ck Signet 8/5/91 
   39.60
 
ck A. G. Edwards 8/15/91 
    2,346.63
 
ck Kemper Mun Bond Fund 4/30/91
    162.86
 
ck Kemper Mun Bond Fund 5/31/91
    162.86
 
ck Kemper Mun Bond Fund 7/31/91 
   162.86
 
ck Kemper Mun Bond Fund 8/30/91 
    162.86
 
Ck Nuveen Fund 3/1/91
63.00
 
Ck Nuveen Fund 5/1/91
   63.00
 
ck Nuveen Fund 6/3/91 
   63.00
 
ck Nuveen Fund 8/1/91
66.00
 
ck Nuveen Fund 9/3/91
    66.00
 
ck American Funds 9/9/91
424.76
 
Sovran Bank #4536-2785
3,310.46
 
First Virginia Bank #4076-1509
22,812.52
 
Fx Co. Ind Dev Bond 
 109,587.00
 
Franklin Va. Fund 4556.001 sh
51,396.34
AMD
Investment Co. of America 3861.447 sh 
65,663.91
 
Kemper Mun Bond Fund 2961.152 sh
30,396.23
 
Nuveen Premium Inc Mun Fund 700 sh 
11,200.00
AMD
Washington Gas Light Co. 200 sh
   6,375.00
 
Signet Banking Corp 198 sh
  4,331.25
 
Lynch Properties note
518,903.26
 
Travelers Check    
20.00
 
1988 Plymouth Van 
  8,000.00
 
Am Funds ck 5/10/91 
326.60
 
USAA Subscriber sav acct  
25.10
AMD
           Sub Total Inventory Items 
836,237.10
 
[Bk0467  0192 follows]
Receipts During Period
First Virginia Bank int  
     39.58
 
ck Nuveen 11/1/91  
 66.50
 
ck WGL 11/1/91
105.00
 
ck Kemper 10/31/91 
        162.86 
 
ck Nuveen 10/1/91
66.50
 
ck Kemper 9/30/91
      162.86
 
Va. 1990 refund  
  1,605.58
 
Nuveen 12/31/91 
  66.50
 
Kemper 12/31/91 
    384.95
 
Kemper 11/29/91 
     162.86
 
Signet 11/27/91     
   39.60
 
Nuveen 12/2/91
   66.50
 
Blue Cross 10/10/91
         88.78
 
Int B&H earned 2/11  
       111.22
 
Nuveen 2/3/92
     66.50
 
WGL div 2/1/92
105.00
 
Sovran int DOD-3/2/92
    71.52
 
ck Signet 2/26/92 
      39.60
 
ck A. G. Edwards (Ex bond) 2/18/92 
     3,520.00
 
ck Kemper 2/28/92 
    171.75
 
ck Nuveen 3/2/92 
       66.50
 
Int B&H 3/10
    246.12
 
ck Kemper 1/31/92
     171.75
 
Int B&H 4/10
        210.76
 
Int Lynch Prop Note DOD-4/21/92
  26,917.17
 
Int fm Harold 'Connell Trust 
    816.00
 
Debt fm Harold O’Connell Trust  
    659.97
 
Nuveen 4/1/92
     66.50
 
USAA refund 
   34.77
 
Int B&H 5/11 
      1,144.70
 
A. G. Edwards 5/27-Signet $107 div  WGL div 39.60 
      146.60
 
Int earned B&H  
        1,037.93
 
Nuveen 6/1/92 
            66.50
 
Int earned B&H 
          666.39
 
Nuveen 7/1/92
66.50
 
Int earned B&H
    451.50
 
Nuveen 8/3/92 
    66.50
 
Nuveen 9/1/92   
            67.90
 
Nuveen 9/1/92   
     24.50
 
Int earned B&H   
   406.80
 
Inc Invest Co. of America DOD-9/15/92
    5,403.87
 
A. G. Edwards acct Ex bond int
     3,520.00
 
A. G. Edwards acct Signet div 
        39.60
 
A. G. Edwards acct WGL div 
         107.00
 
Kemper Mun Bond Fund DOD-9/15/92
      1,468.42
 
Franklin Va. Fund DOD-9/15/92 
       5,590.85
 
          Sub Total Receipts during period 
   56,928.42
 
TOTAL RECEIPTS 
    893,165.52
 
[Bk0467  0193 follows]
DISBURSEMENTS  
 
Item Ckno
 
1  Colonial Emerg Phys (med bill)                             
1
10.40
 
      VOID 
 
Fairfax Circ Ct. letters 
3  
14.00
 
3  Jean M. Nader probate tax reimb   
4
   1,269.00
 
4 NationsBank Car loan payoff
5
    1,364.97
 
5  Checks   
15.89
 
6 Jean Nader int on Hallmark acct while dep in estate acct  
7
270.82
1
7 Commissioner of accounts Inventory  
8
  61.00
 
8  IRS 19911040 return
9
15,332.00
 
9 Va. Dept Tax 1991 return
10
2,856.00
 
10 Jean M. Nader, disb 
11
75,000.00
 
11 Jean M. Nader, bills pd SHE IS OWED 30 cents(?)
12
8,559.00
 
12  Sheila Ann O'Connell-Shevenell, disb 
13
75,000.00
 
13 Sheila Ann O'Connell-Shevenell, cem bill 
14
475.00
 
14  Anthony M, O'Connell, disb 
15
75,000.00
 
15 Anthony M. O'Connell int/disb 4/22-5/20 16
230.14
2
16 A. G. Edwards legal charge (debit fm div)   
40.00
 
17 IRS estimated Estate Tax 17
119,000.00
3
18  Virginia estimated Estate Tax  18
31,000.00
3
19 IRS 1991 income tax  19
28,334.00
 
20  Va Dept Tax 1991 amended return  21
5,712.00
 
21 National Fire Ins Co of Hartford Nuveen bond 22
169.26
4
22 U. S. Trust processing fee 23
20.00
4
23  Harold O'Connell Trust, appraisal  24
2,000.00
5
24  Jean M. Nader, disbursement 101
  33,000.00
 
25 Anthony M. O'Connell, disbursement 102
33,000.00
 
26 Sheila Ann OVConnell-Shevenell, dis  103
33,000.00
 
27 IRS est share of int due 91 amd tax 104¹
241.81
6
28 1988 Plymouth Van to Anthony O’Connell  
8,000.00
7
     
 
TOTAL DISBURSED  
  548,975.29
 
Vouchers in support of these disbursements are submitted herewith.
NOTES:
1.  Decedent: had a POD account in Hallmark Bank with Jean Nader. The bank erroneously paid the amount to the estate. This figure is the interest earned on that sum while in the estate account. (Accounting entanglement $270.82)

2.  This represents interest earned in the estate account on the amount of the disbursement while the disbursal was delayed. This is to equalize the disbursements among the legatees. (Accounting entanglement $230.14)

3.   Estimated tax was paid with an extension request. ($175,000.00 version and $119,000.00 version)

4.   Expenses incurred due to lost Nuveen certificate of ownership. (Accounting entanglements $169.26 and $20.00)
[Bk0467  0194 follows]

5.  Decedent owned a partial interest in 15 acres of land in Accotink.  The Harold O’Connell Trust owned the other share. The estate agreed to pay for the appraisal which hopefully will reduce the value of the tract by 50%. The beneficiaries of the Trust are the same persons as the devisees under the will and in the same shares. (Accounting entanglement using an imaginary $2,000.00)

6.  When the 1991 income tax was prepared by Edward J. White, Co- Executor, a large capital gain was omitted necessitating the filing of an amended return. $526.55 was assessed in interest by the IRS. The figure is the amount of interest earned by the estate while the amount due the IRS was in the estate bank account. The balance of the interest assessment was paid by Edward J. White. (Accounting entanglement $241.81)

7. Jean M. Nader and Sheila O’Connell-Shevenell agreed that the vehicle should be disbursed to Anthony M. O’Connell in addition to his 1/3 share of the remainder of the estate. (Accounting entanglement using car as $8000.00 gift-estate tax interplay)

RECONCILIATION
SUM RECEIPTS 
893,165.52
SUM DISBURSED    
548,975.29
RECEIPTS LESS DISBURSEMENTS
344,190.23
ON HAND
Burke and Herbert Bank & Trust Co.
      49,110.76
Investment Co, of America (A. G. Edwards)
 71,067.78
Franklin Virginia Fund (A. 'G. Edwards)
    56,987.19
Kemper Municipal Bond Fund (A. G. Edwards) 
    31,864.65
Fx Co. Ind Dev Bond (A. G. Edwards) Inv value  
109,587.00
A. G. Edwards MMA and cash
     3,666.60
Nuveen Premium Inc Mun Fund (A. G. Edwards)(invval)
    11,200.00
Washington Gas Light Co. 200 sh (Inv value)
    6,375.00
Signet Banking Corp 198 sh (Inv value)
   4,331.25
TOTAL ON HAND TO BE DISTRIBUTED 
   344,190.23
DIFFERENCE
    0.00
 
DATE :  October 16, 1992
Edward J. White (seal)
Jean M Nader (seal)
    Edward J. White
    Jean M Nader
    Co-Executor 
    Co-Executor 
[Bk467 195 follows]
IN THE QFFICE OF THE COMMISSIONER OF ACCOUNTS
CIRCUIT COURT OF FAIRFAX COUNY, VIRGINIA
        At the request of Edward J. White, Co-Executor and Attorney and Agent of the estate of Jean M. O'Connell, deceased, I gave the notice required by section 64.1-171 of the Code of Virginia, 1950, as amended, setting the 30th day of December, 1992, at 10:30 A. M., at my office in Fairfax, Virginia, as the time and place for receiving proof of debts and demands against the estate of Jean M. O’Connell.
        At the said time and place, no one appeared to offer to prove any debts or demands against said estate.
        I hereby certify that I have stated the foregoing account of Jean M. O’Connell, deceased, after having given the notice req6ired by law, and have approved the same. Vouchers for the disbursements were submitted to me.
        GIVEN under my hand this 20th day of March, 1993
  J Wilson (seal)
Jesse B. Wilson, III
Commissioner of Accounts
Fairfax County, Virginia
[Bk467 196 follows]

STATE OF VIRGINIA
COUNTY OF FAIRFAX, to-wit:
I, JESSE B. WILSON, III, Commissioner of Accounts for Fairfax County, Virginia, do hereby certify that I have this day stated the foregoing account, after having given the notice required by law, and have approved the same. Vouchers for said disbursements were submitted therewith.
GIVEN under my hand this 20th day of March, 1993.

  J Wilson (seal)
Jesse B. Wilson, III
Commissioner of Accounts
Fairfax County, Virginia

IN THE CLERK'S OFFICE OF THE CIRCUIT COURT OF FAIRFAX COUNTY,
VIRGINIA:
I, JOHN T. FREY, Clerk of the circuit Court of Fairfax County, Virginia, do hereby certify, that the foregoing Account or Report has been filed in my office for more than fifteen days, and that no exceptions have been filed thereto, and the same is now recorded pursuant to the provisions of SS 26-33 and 26-35 of the Code of Virginia, as amended.
GIVEN under my hand this 7 day of April , 1993.       

 

TESTE: JOHN T. FREY, CLERK
     BY: Karen L. Lyon(?) (seal)
                Deputy Clerk