- 49 - Blount also gave a copy of the offering memorandum to his tax return preparer, Gowin. Mr. Zenkel spoke to Becker; both he and Mrs. Zenkel spoke to Steele. Blount learned about the Plastics Recycling transactions from Sprague. Sprague suggested the Plastics Recycling transactions to Blount as an investment option after Blount mentioned that he was going to receive additional compensation income. Sprague recalled introducing the investment to Blount in the following manner: "[I]f you're looking for investments, you might contact Stephen Leicht or Stuart Becker, because I * * * understand that they, as a service to clients, do screen numerous such investments, not to guarantee them but to just generally determine if they believe they would be suitable for referring * * * to their clients to take a look at." (Emphasis added.) Sprague then went on to describe the Plastics Recycling information he had received from Leicht and Becker "in a general way." Blount never spoke to Becker or Leicht. He simply reviewed the offering memorandum, spoke with Sprague, and furnished the offering memorandum to his tax return preparer. Sprague is not an expert in plastics materials or plastics recycling and could not evaluate the technical or engineering details of the Phoenix transaction. He testified that in 1981 he "was a complete stranger to this notion of reprocessing plastics and recycling."Page: Previous 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 Next
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