Justice Department lawyers today filed suit against a former Seyfarth Shaw partner in Chicago whose promotion of tax shelters using Brazilian debt allegedly created hundreds of millions of dollars in fake tax deductions for clients in the United States.
The 74-page civil suit, filed in Chicago federal district court, names tax attorney John Rogers and two of his companies, Sugarloaf Fund and Jetstream Business Limited, as defendants. The suit claims that Rogers, since at least 2003, created “abusive tax avoidance schemes” that used distressed asset debt tax shelters and distressed asset trust tax shelters.
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