- 15 -- 15 -
concerning the transactions in August or September 1981. Becker
reviewed the offering memorandum and spoke to Miller, one of the
key figures in the transactions and an acquaintance of Becker's.
Miller was a shareholder of F & G Corp. and, as noted, the
corporate counsel to PI. He also represented Robert Grant
(Grant), the president and 100 percent owner of the stock of ECI
Corp., and some of Grant's clients. Thereafter, Becker
recommended the investment to the prospective client. Although
the prospective client did not invest in the Plastics Recycling
transactions, Becker became interested in the proposal and
organized the SAB Recycling Partnerships in order to make similar
investments in Sentinel EPE recyclers conveniently available to
appropriate clients.
In organizing the SAB Recycling Partnerships, Becker was not
allowed to change the format of the transactions or the purchase,
lease, or licensing prices of the Sentinel EPE recyclers. He was
allowed only to conduct a limited investigation of the proposed
investments and choose whether or not to organize similar
partnerships. Becker relied heavily upon the offering materials
and discussions with persons involved in the matter to evaluate
the Plastics Recycling transactions. He and two other members of
Becker Co., Leicht and Tucker, investigated PI and visited its
plant in Hyannis, Massachusetts, where they saw the Sentinel EPE
recyclers. Leicht testified in docket Nos. 16922-90 and 19612-90
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