Paniello v. Smith

This case involves an action brought by August Paniello, the son-in-law of Santo Trafficante, based upon a document entitled “Trust Acknowledgment” which Traf-*627ficante received for introducing appellee Oakley G. Smith to another individual in order to facilitate a mortgage loan to build a hospital'. The “Trust Acknowledgment” document which Trafficante received in 1965 provided, in pertinent part, that:

Oakley G. Smith, is holding in trust, for the benefit of_150 shares of stock of the total authorized shares of Brusa Corp. — A Fla. Corp. That said 150 shares of stock ... constitutes a 25%…