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With the IRS after him for stashing nearly $100 million in questionable offshore tax shelters, telecommunications entrepreneur Peter Loftin tried to deflect the blame onto his financial planners at KPMG, which he sued for racketeering, fraud and negligence. But Senior U.S. District Court Judge Kenneth L. Ryskamp has thrown Loftin's suit out of court, in what is believed to be the first major ruling in a series of similar cases.
September 18, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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