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The general partner of each of the SAB recycling
partnerships, including SAB Reclamation and SAB Recycling, is SAB
Management Ltd. (SAB Management). SAB Management is wholly owned
by Scanbo Management Ltd. (Scanbo),6 which is wholly owned by
Becker. The officers and directors of SAB Management and Scanbo
are: (1) Becker, president and director; (2) Noel Tucker
(Tucker), vice president, treasurer, and director; and (3) Steven
Leicht (Leicht), vice president, secretary, and director. During
the years in issue, Tucker and Leicht also worked at Becker Co.
Tucker was vice president. Each owned approximately 5 to 7
percent of the stock of Becker Co. SAB Management did not engage
in any business before becoming involved with the SAB recycling
partnerships.
With respect to each of the Partnerships, a private
placement memorandum was distributed to potential limited
partners. Reports by F & G's evaluators, Dr. Stanley M. Ulanoff
(Ulanoff), a marketing consultant, and Dr. Samuel Z. Burstein
(Burstein), a mathematics professor, were appended to the
offering memoranda. In a section highlighting potential
conflicts of interest, each of the memoranda notes that Burstein
was a client and business associate of Elliot I. Miller (Miller),
the corporate counsel to PI.
6 Scanbo is an acronym for three of Becker's children: Scott,
Andy, and Bonnie.
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Last modified: May 25, 2011