Opinion ID: 1247936
Heading Depth: 1
Heading Rank: 4

Heading: Commingling Funds and Other Assets

Text: The trial judge found: Robert B. Yost funneled corporate money through his personal account to finance a drug paraphernalia shop for the business.          The wife of Robert B. Yost, Shirley Yost, conducted a music business as a sole proprietorship through the joint checking account with Yost Brothers Company, commingling personal and corporate assets. Yost Brothers Company carried the music business equipment as a corporate asset since 1976 and declared music income since 1976.    The consistent use of cash in acquiring business inventory, making purchases for the business, making cash deposits to the personal checking account of Robert B. Yost, making purchases for the personal use of Robert B. Yost and for Shirley Yost make it difficult if not impossible to accurately determine how corporate funds were handled or to trace the origin of said funds. It appears that expenses for food, entertainment, fuel, and automobile expenses were not paid from the personal accounts of Robert and Shirley Yost.