- 14 - monitor. We certainly got the mail from the Internal Revenue Service as well as from the partnership. And that’s about all we could monitor.” Keith also acknowledged that he did not undertake any independent investigation regarding the value of the recyclers and that he was fully aware of the tax benefits associated with investing in Masters. E. Warren and Elizabeth West In 1955, Warren West (Warren) received a bachelor of science degree in civil engineering from the University of Minnesota. After graduation, Warren was employed by the Center City Co. (Center City). Eventually, Warren became the president of Center City. At times, Warren also sat on the boards of three publicly held companies. Prior to 1982, Warren invested mostly in shares of publicly traded companies. Sometime during 1982, Warren learned about Hamilton from Mejia, an agent for Cigna who was working with Warren with regard to his financial and estate planning. Warren asserts that Mejia told him that he had traveled east and had seen the recycling equipment and that Hamilton was a viable ongoing operation. As result of his discussions with Mejia, Warren spent an unspecified number of hours reviewing the Hamilton offering memorandum. Warren also asserts that he asked his C.P.A., Jim Maki (Maki), to review the Hamilton offering memorandum. Warren claims that Maki told him that the HamiltonPage: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011