- 19 - discussed the investment with Mr. Zenkel. She did not know whether Becker or Steele had any experience, education, or background in plastics recycling. The Zenkels each talked to Steele about the investment. Mr. Zenkel called Becker directly and asked him a large number of questions about the Plastics Recycling transactions. Becker answered his questions and related the particulars of his investigation to Mr. Zenkel. The Zenkels had extensive investment experience prior to investing in SAB Reclamation. Mrs. Zenkel considered Mr. Zenkel, who had professional experience in the syndication business, to be sophisticated in financial matters. 2. Robert G. Blount Petitioner Robert G. Blount (Blount) resided in Southhampton, New York, when his petition was filed. He received an undergraduate degree in accounting from Babson College in 1960 and joined the accounting firm of Arthur Andersen & Co. (Andersen) that same year. Blount became a C.P.A. in 1965 and in 1970 he became a partner at Andersen. In 1973 he left Andersen and became the chief financial officer of a small company and in 1974 he joined American Home Products (AHP), a major pharmaceutical manufacturer, as its treasurer and vice president of finance, subsequently advancing to positions of greater responsibility with AHP. On his 1981 Federal income tax return, Blount reported gross income from wages in excess of $332,000.Page: Previous 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Next
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