- 20 - In December 1982, at or about the time he invested in Dickinson, petitioner also invested $50,000 in a business known as Real Estate Financial Corp. Petitioner was introduced to Dickinson in November 1982 by Herbert Krickstein (Krickstein), a friend and medical colleague, and Fred Gordon (Gordon), an attorney, while on a golf vacation in Florida. At the time, Gordon was Krickstein’s attorney; Gordon was also actively engaged in selling interests in partnerships such as Dickinson and was the “Fred Gordon, Esq.” who was identified in the Dickinson offering memorandum as “Special Counsel to the General Partner”. Gordon never represented that he had any specialized knowledge about plastics recycling. After his return from Florida, petitioner received a letter from Gordon dated November 30, 1982, enclosing a copy of the offering memorandum. Petitioner “browsed” through portions of the offering memorandum, but he did not read it. Rather, he consulted with Philip Nusholtz (Nusholtz), an attorney with whom he had a long-standing professional relationship and whose judgment he respected and whose advice he valued.8 Nusholtz also did not read the offering memorandum; however, he advised petitioner not to invest in any promotion marketed by Gordon but 8 Philip Nusholtz was the father of petitioners’ counsel Neal Nusholtz.Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Next
Last modified: May 25, 2011