Opinion ID: 612373
Heading Depth: 4
Heading Rank: 3

Heading: The Gazela painting

Text: Fumo induced Citizens Alliance to commission a painting of the Gazela, a historic ship, from a local painter for $150,000. As the Government‟s investigation and media reports surfaced, Fumo directed Citizens Alliance to donate the painting to the ISM, rather than retain it in his office. The Government argues that this entire amount should count as loss, because the painting was otherwise unwanted and it and its prints are now in storage. The District Court credited the testimony of an appraiser as to the value of the painting and 9 Further, even if it were appropriate to grant a credit for the fair market value of the building, it would be necessary to set off the costs associated with the purchase and maintenance of the building. Obviously, any gain experienced by Citizens Alliance due to the value of the building can only be calculated after subtracting what it paid to acquire the building in the first place. 43 the prints and the Government does not appear to have offered a competing formal appraisal. Accordingly, the District Court‟s factual finding is entitled to significant deference, and we will not disturb it.10