Opinion ID: 2982389
Heading Depth: 3
Heading Rank: 2

Heading: Threadgill’s Real Estate Transactions

Text: In April 2000, Threadgill purchased a parcel of property at 3523 Captain’s Way in a subdivision outside Knoxville, Tennessee on behalf of the ELM Family Educational Trust. At the time of purchase, the property was undeveloped. In June 2003, Threadgill sold the Captain’s Way property on behalf of the ELM Family Educational Trust and received a check for $60,000. Threadgill deposited the check in the ELM Family Educational trust bank account and proceeded to spend that money on a variety of personal expenses. In August 2002, Threadgill entered into a lease/purchase agreement for a condominium at 1005 Water Place in Gettysvue Golf Community. The seller was Lynda White. The agreement obligated Threadgill to close within one year, pay earnest money, and make monthly payments. Threadgill made his monthly payments with checks drawn on his law firm’s bank account. As a result of his financial difficulties, Threadgill was unable to purchase the home within a year of the agreement being signed. Consequently, the parties executed an addendum to the agreement providing that he would close on the property by July 1, 2004. With the threat of eviction 4 No. 13-5897 United States v. Threadgill looming, Threadgill financed the purchase of the Water Place condo with a home loan and cashier’s check made payable to his law firm.