this is glen sergeon. >> yes. >> smith: so this guy, he was the salesman for arrowhawk?correct. >> smith: in 2009, when arrowhawk was being considered, the only person on the krs board with much investment management experience was chris tobe. he thought it was a risky bet. h >> ...you hirege fund, you're looking for a fund that has a track record, experience. >> smith: right, and this one didn't. >> correct. but glen sergeon had a relationship with adam tosh, the chief investment officer of krs at the time. tosh sold us that... >> smith: tobe told me that krs's chief investment officer, adam tosh, convinced the board to invest in arrowhawk, whichlt re in a large fee from arrowhawk for tosh's man, glen sergeon. >> smith: and how much money wai he paid to briarrowhawk? >> two million for arrowhawk but he brought in some other investments to the total of six million. >> smi: but at the time of the vote, the board didn't know there was a placement agent operating in the background. >> it was never disclosed in financial statements, it was never disclosed anywhere that..n he