Robert D. and Patricia K. Kaliban, et al. - Page 21

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            explained that he believed that if Alter and other members of                             
            Shea & Gould were investing in a Plastics Recycling transaction,                          
            then he should too.                                                                       
                  3.  Karl and Marjorie Weber                                                         
                  Petitioners Karl and Marjorie Weber resided in Fort Meyers,                         
            Florida, when their petition was filed.  Both of the Webers died                          
            prior to the trial of their case.  The executor of their estates,                         
            Alter, testified on their behalf.                                                         
                  Each Weber earned a college degree.  Karl became a                                  
            successful voice-over performer and a member of the board of                              
            directors of the Screen Actors Guild, and Marjorie managed their                          
            finances.  They met Alter in approximately 1969 or 1970 and                               
            retained his firm to prepare their tax returns and provide other                          
            tax services.  Feinstein handled their tax matters and met with                           
            the Webers approximately four times a year.  Alter represented                            
            the Webers in some real estate transactions, and Feinstein on                             
            occasion reviewed investments that had been suggested to them by                          
            others.  Prior to 1981, Alter and the Webers both invested in a                           
            successful nursing home venture.  On their joint 1981 Federal                             
            Income tax return, the Webers reported gross income from wages,                           
            interest, dividends, and capital gains in excess of $221,000.                             
                  The Webers acquired a 1.547-percent interest in Clearwater                          
            for $12,500 in 1981.9  As a result of their investment in                                 

            9     The parties stipulated that the Webers owned a one-quarter                          

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