Paul L. and Doris J. Triemstra, et al. - Page 9

                                        - 9 -                                         
          Roberts or Grant was the general partner.  Kravitz did not invest           
          in any of these real estate transactions.                                   
               Sometime in August 1981, Roberts informed Kravitz of the               
          Northeast transaction.  Roberts was the general partner in a                
          number of limited partnerships, including Northeast, which leased           
          Sentinel EPE recyclers.  Roberts also was a 9-percent shareholder           
          in F & G.  Roberts explained the Northeast transaction and its              
          tax benefits to Kravitz.  Kravitz knew that Roberts' background             
          was in banking, and Kravitz had no indication that Roberts had              
          any knowledge or experience in plastics, plastics recycling, or             
          machinery.  Kravitz read the entire Northeast offering                      
          memorandum.  Roberts told Kravitz that he had visited PI, had               
          seen a recycler in operation, and believed Northeast was a good             
               Kravitz introduced Northeast to Cohn, Triemstra, and                   
          Hechtman and told them of his discussions with Roberts.  Kravitz            
          also discussed the Northeast offering memorandum with Garrapee,             
          who had experience with Roberts and Grant.  Garrapee was a                  
          certified public accountant (C.P.A.) and was responsible for the            
          financial aspects of the apartment complex projects, including              
          preparation of the financial reports as well as the pro forma               
          financial information included in the various offering memoranda.           
          Garrapee told Kravitz that he and his partners were going to                
          invest in Northeast.  Kravitz did not know whether Garrapee had             
          any background in plastics or plastics recycling.                           

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011