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...
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