Seyfarth Hit With Fraud Suit Over Brazilian Tax Shelters

Law360, Los Angeles (March 13, 2013, 10:22 PM EDT) -- Seyfarth Shaw LLP, the Law Offices of Michael D. Hartigan & Associates PC and Jetstream Business Ltd. were hit with a derivative suit in Illinois state court Wednesday over their alleged roles in creating and selling a series of worthless tax shelters.

The complaint, filed by Michael L. Weiser and Harbor Bay Fund LLC, alleges the defendants knew or should have known that their tax shelter schemes — involving the contribution of junk Brazilian consumer debt to U.S. taxpayers to offset U.S. tax obligations — were...
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