BDO, Morgan Lewis Sued In Illinois Over Tax Shelters

Law360, New York (November 27, 2012, 11:38 PM EST) -- Two Michigan investors on Tuesday sued accounting firm BDO Seidman LLP and law firm Morgan Lewis & Bockius LLP in Illinois state court for allegedly conspiring to sell them fraudulent tax shelter products despite knowing that the investments likely were illegal.

Investors Alan and Sue Kaufman said BDO knew that the investments, which were promoted as a way to make an above-average rate of return while minimizing tax obligations, likely would be considered illegal but pushed them on clients anyway, according to the suit, which claims...
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