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period in issue, Mr. Trimboli had worked at the public accounting
firm Bugni, LaBanca & Paduano for approximately 7 years, doing
primarily tax work and some auditing work. In 1983, he started a
business on his own as a certified public accountant and
financial planner. The education Mr. Trimboli had completed at
that time--a bachelor’s degree in accounting and the bulk of the
courses required to become a certified financial planner through
the College of Financial Planning--included courses in Federal
and State taxation. However, Mr. Trimboli had no experience as a
financial planner prior to starting his own business in 1983.
Mr. Trimboli learned of jojoba investments in early 1983
through a financial planning association to which he belonged.
In June 1983 and again in September 1983, Mr. Trimboli traveled
to California to investigate the partnership as a potential
investment opportunity. He traveled to Blythe, California, and
to Bakersfield, California, where there were plantations on which
jojoba was already being grown. He also visited a research
facility located at and operated for the use of the University of
California at Riverside which was involved in the growing of
jojoba. On the first trip, Mr. Trimboli was accompanied by
Robert Cole--who would become the general partner of the
partnership--and on the second trip he was accompanied by Mr.
Cole and three of Mr. Trimboli’s own colleagues. On these trips,
Mr. Trimboli also met with Eugene Pace, who was the president of
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