- 6 - II. Petitioners and Their Investment Petitioner wife (Ms. Hansen) is a high school graduate and a licensed respiratory care practitioner. Petitioner husband (Mr. Hansen) has a college education, with a bachelor of science degree in civil engineering and architecture. During the year in issue, Ms. Hansen was employed as a respiratory therapist, and Mr. Hansen was employed as a civil engineer. At the time they invested in the Hoyt partnerships, petitioners’ investment- related experience comprised the purchase of their residence, the purchase of a term life insurance policy and Government bonds, the use of savings accounts, and Mr. Hansen’s investments in his employment-related retirement account. Petitioners did not have any prior experience with farming or cattle. Petitioners first heard about the Hoyt partnerships from Mr. Hansen’s co-workers in 1986. At the suggestion of one of these co-workers, who was himself an investor in a Hoyt partnership, petitioners attended an informational session about the partnerships at the Red Lion Hotel in Pasco, Washington, in the latter part of 1986. Mr. Hoyt and others involved in the Hoyt organization attended the session, where a presentation was given concerning the nature of the Hoyt partnerships and how they were being marketed as a retirement investment. While at this session, petitioners discussed the Hoyt partnerships with individuals who had already made investments in the partnerships.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011