Deutsche Bank Sued Over "Son Of Boss" Tax Shelter

Law360, New York (January 25, 2007, 12:00 AM EST) -- German lender Deutsche Bank AG has been accused of illegally promoting so-called “Son of Boss” tax shelters in a new proposed class action lawsuit that includes claims of fraud, racketeering and civil conspiracy.

The lawsuit accuses Deutsche Bank and private equity firm Clarion Capital LLC of creating a group of enticing tax shelters that racked up huge fees from their clients while setting them up for a costly conflict with the Internal Revenue Service.

The lawsuit was filed by wealthy investors Mark Hutton and Clear Meadow...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.