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agreements relating to three series of Hoyt partnership units,
powers of attorney granting Walter J. Hoyt III authority over
partnership matters, and various partnership agreements. Glenn
signed the documents and instructed petitioner to sign the
documents. When petitioner objected, Glenn explained to
petitioner that, because they were married, her signature was
required in order for him to invest. Again, Glenn reassured
petitioner that she need not worry and that he would take full
responsibility.
Relying on Glenn’s representations, and without reading
them, petitioner signed the Hoyt partnership documents.
Petitioner never communicated with any Hoyt partnership
representatives, never attended any partnership-related meetings,
and never read any correspondence or promotional materials from
the Hoyt partnerships. Petitioner placed mail relating to the
Hoyt partnerships aside, unopened, for Glenn to deal with, as she
considered the Hoyt partnerships his investments.
All payments and contributions to the Hoyt partnerships were
made by Glenn from his separate bank accounts. Over the years,
Glenn wrote more than 20 checks exceeding $55,956 to the Hoyt
partnerships and related entities.
At no time did petitioner contribute any funds to the Hoyt
partnerships.
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Last modified: November 10, 2007