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also visited PI in Hyannis and met with Miller and other insiders
to the transactions. Leicht never communicated an opinion as to
the value of the recyclers other than what was presented in the
offering memoranda. He has no education or expertise in plastics
materials or plastics recycling.
E. Petitioners and Their Introduction to the Partnership
Transactions
Petitioners in these cases under consideration do not have
any education or work experience in plastics recycling or plastic
materials. They did not independently investigate the Sentinel
EPE recyclers or see a Sentinel EPE recycler or any other type of
plastics recycler prior to participating in the recycling
ventures.
1. Bruce and Lois Zenkel
Petitioners Bruce and Lois Zenkel (the Zenkels) resided in
Scarsdale, New York, when their petition was filed. Bruce Zenkel
(Mr. Zenkel) graduated from the University of Michigan and took
some post-graduate courses at the University of Pennsylvania.
Mr. Zenkel did not testify at trial. Lois Zenkel (Mrs. Zenkel)
attended Connecticut College and in 1975 received a degree from
Manhattanville College. During the years in issue, Mrs. Zenkel
was a freelance photographer, and Mr. Zenkel was an investment
banker. On their joint 1982 Federal income tax return, the
Zenkels reported gross income from wages, interest, dividends,
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