Legal Opinion
United States v. William J. Rochelle, Jr., Trustee in Bankruptcy for John Milton Addison, Bankrupt
Court of Appeals for the Fifth Circuit
Decided October 20, 1967No. 23923PublishedCited by 63 opinions
1Opinion of the Court
WISDOM, Circuit Judge:
Is money obtained from a swindle taxable income to the swindler? We hold that it is. And it makes no difference if the swindle is in the form of a loan and the “lenders” so beguiled that they really believe that they made bona fide loans.
Once again the financial dealings of promoter John Milton Addison are before the federal courts. 1 The present case involves a claim for federal income taxes asserted in Addison’s bankruptcy proceedings. The contest is between the taxing authorities and the trustee, representing creditors defrauded by Addison. These creditors “lent”…
2Cases cited11 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- Corliss v. BowersSupreme Court of the United States · 1930
- James v. United StatesSupreme Court of the United States · 1961
- Burnet v. WellsSupreme Court of the United States · 1933
6 more not listed; retrieve them via the Exa API.
3Cited by63 opinions
- McSpadden v. CommissionerUnited States Tax Court · 1968
- United States v. C. George SwallowCourt of Appeals for the Tenth Circuit · 1975
- Harry Moore, Trustee v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- United States v. Charles RosenthalCourt of Appeals for the Second Circuit · 1972
- Schreck v. United StatesDistrict Court, D. Maryland · 1969
58 more not listed; retrieve them via the Exa API.