H&R Block Sued Over Broker's Role in Ponzi Scheme

Law360, New York (October 15, 2008, 12:00 AM EDT) -- H&R Block Financial Advisors Inc. has been sued by investors of a fund alleging that the world's largest tax services provider committed securities fraud by negligently supervising one of its brokers who made fraudulent trades with the fund's money.

In a complaint filed Oct. 14 in the U.S. District Court for the Northern District of Ohio, Mark E. Dottore, as the court-appointed receiver of all assets of entities collectively known as IPOF Fund, alleged that H&R Block violated securities laws by participating in a scheme to...
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