Prosecutor Jason P. Hernandez told a jury yesterday there was no plausible legal justification behind a billion dollars in illegal tax shelters marketed by BDO Seidman, Jenkens & Gilchrist and Deutsche Bank Alex.Brown.

Launching a three-month long trial in the hopes of convicting five defendants, Mr. Hernandez laid out an extended scheme to manufacture paper losses for some 1,000 wealthy clients under the cover of opinion letters issued by Jenkens & Gilchrist and former firm partners Paul Daugerdas and Donna Guerin.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]