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Trustee Can't Get Funds From IRS, Gov't Tells 9th Circ.

Law360, New York (May 17, 2017, 8:38 PM EDT) -- The bankruptcy trustee for a collapsed real estate firm should be trying to recover investors’ lost funds from the firm’s fraudster president and not the IRS, according to arguments the U.S. government made on Wednesday before the Ninth Circuit.

The federal government is appealing an Idaho federal judge's order requiring the Internal Revenue Service to return the majority of $17 million in fraud-tainted tax payments made by entities linked to DBSI Inc., the defunct Ponzi-style real estate firm whose chief was convicted of securities and wire fraud....
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