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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 Corp.'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. 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.
The offering memoranda for SAB Recovery and SAB Reclamation
state that the general partner will receive fees from those
partnerships in the respective amounts of $97,800 and $110,000.
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 Schedules K-1 for
all of the SAB Recycling Partnerships and received fees for those
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Last modified: May 25, 2011