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partners. Reports by F & G Corp.'s evaluators, Dr. Stanley M.
Ulanoff (Ulanoff), who had a background in marketing, and Dr.
Samuel Z. Burstein (Burstein), a mathematics professor, were
appended to the offering memoranda. Ulanoff owns a 1.27-percent
interest in Plymouth Equipment Associates and a 4.37-percent
interest in Taylor Recycling Associates, partnerships that leased
Sentinel recyclers. Burstein owns a 2.605-percent interest in
Empire Associates and a 5.82-percent interest in Jefferson
Recycling Associates, also partnerships that leased Sentinel
recyclers. Burstein also was a client and business associate of
Elliot I. Miller (Miller), the corporate counsel to PI.
SAB Management received fees of approximately $500,000 as
the general partner of the SAB Recycling Partnerships. In
addition, Becker Co. prepared the partnership returns and Forms
K-1 for all of the SAB Recycling Partnerships and received fees
for those services. Although the Plastics Recycling transactions
generally provided for commissions to finders or brokers in the
transactions, neither SAB Management nor Becker retained or
received any sales commissions or offeree representative fees.
Instead, after the closing of each SAB Recycling Partnership,
Becker rebated to each investor the portion of such investor's
original investment that would have otherwise been allocated to a
sales commission or offeree representative fee.
At the time of the closings for the Sentinel EPE recyclers,
there was no established market for leasing or operating the
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Last modified: May 25, 2011