- 8 -
that, pursuant to section 7 of the employment agreement, he was
terminating the employment agreement. On November 22, 1994, RHB
delivered a written notice to petitioner that, pursuant to
sections 1 and 7 of the employment agreement, RHB was terminating
the employment agreement for cause. Petitioner immediately
turned over his office keys and RHB credit card and left the
office. When petitioner returned to gather his belongings, he
was supervised by another fiduciary who had to approve what
petitioner took from the office.
When he left RHB, petitioner took with him the trust
accounts for which he served as the sole trustee. Petitioner
also took with him trust accounts for which he served as a
cotrustee where the other cotrustee determined that it was
appropriate to resign. Petitioner resigned from the remainder of
the trust accounts for which he served as a cotrustee.
In January 1995, petitioner began working at Woodstock Corp.
On October 4, 1999, petitioner joined Foster, Dykema, Cabot & Co.
(FDC) as its vice president and portfolio manager. As he had
done at RHB, petitioner remitted all trustee’s fees to FDC, and
FDC paid petitioner a salary. Petitioner worked at FDC during
2001.
On November 21, 1997, petitioner filed suit against RHB in
the U.S. District Court for the District of Massachusetts,
alleging various Federal and State claims. In 1999, the District
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