Bernice M. and Stanley M. Ulanoff - Page 8




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          the Plymouth transactions, Roberts and Grant were clients of the            
          accounting firm H.W. Freedman & Co. (Freedman & Co.).                       
               Harris W. Freedman (Freedman), a certified public accountant           
          and the named partner in Freedman & Co., was the president and              
          chairman of the board of F&G.  Freedman was experienced with                
          leveraged leasing, and he owned 94 percent of a Sentinel EPE                
          recycler.                                                                   
               Freedman & Co. prepared the tax returns for ECI, F&G, and              
          the Partnerships, as well as for Clearwater Group.  It also                 
          provided tax services to John D. Bambara (Bambara).  Bambara was            
          the 100-percent owner of FMEC, as well as its president,                    
          treasurer, clerk, and director.  Bambara was also the president             
          of PI and a member of its board of directors.  He, his wife, and            
          his daughter also owned directly or indirectly 100 percent of the           
          stock of PI.                                                                
               Anthony Giovannone (Giovannone) was the executive vice                 
          president of PI and a member of its board of directors.                     
               Elliot I. Miller (Miller) was the corporate counsel to PI.             
          In 1981, Miller was also a shareholder of F&G.                              
               John Y. Taggert (Taggert) was a well-known tax attorney and            
          an adjunct professor at the New York University Law School.                 
          Taggert was acquainted with Miller for about 15 years prior to              
          1981.  Miller recommended that Roberts employ Taggert and his               
          firm as counsel.  Taggert and other members of his firm prepared            
          private offering memoranda, tax opinions, and other legal                   



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