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DBSI Trustee Wants IRS To Return All Ponzi Funds

Law360 (February 23, 2018, 8:36 PM EST) -- The bankruptcy trustee of doomed Ponzi vehicle DBSI Inc. has moved for a quick win in its claw back suit against the IRS in Idaho federal court, arguing the federal tax authority is still on the hook for $3.6 million the company used to pay its principals’ income taxes.

The IRS will already have to pay DBSI roughly $13.5 million, after Chapter 11 trustee James R. Zazzali successfully defended an earlier order by the bankruptcy court dismissing the agency’s “sovereign immunity” defense before the Ninth Circuit...
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