-5- Richard Illingworth Petitioner first met Richard Illingworth at a social gathering in Miami in late 1977 or early 1978. Petitioner informed Mr. Illingworth that he was looking for investment opportunities. In that regard, Mr. Illingworth explained to petitioner how he could benefit from trading in commodity futures as well as option spreads involving Government securities. They discussed the possibility of forming a partnership that would engage in the trading of option spreads and commodity futures. Mr. Illingworth was educated in England and in the late 1960's entered the commodities business. He first worked at the London Metal Exchange for the Rudolf Wolff Co., a London metal broker and commodity trader. In 1971, he moved to the United States, where he was employed by C. Tennant Sons & Co., a metals and futures trading company. Two years later, Mr. Illingworth moved to ICC Metals (a division of International Chemical Corp.) where he traded in copper and other metals. Subsequently, he worked for Gill & Duffus under a trader named Herbert Weiss. In 1977, Mr. Illingworth formed Manhattan Metals (Nonferrous) Ltd. (Manhattan Metals), a New York corporation, involved in physical commodities and futures trading. He was the largest Manhattan Metals shareholder and had a controlling interest.2 Mr. 2 The remaining stock was owned by Mr. Illingworth’s (continued...)Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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