Wednesday, November 15, 2006
Former Chair of Greenberg Traurig's Tax Department Resigns from Bar Following Kickbacks in Tax Shelter Cases
Interesting article in today's New York Law Journal: Ex-Greenberg Tax Chief Resigns Over Kickbacks, by Anthony Lin:
In the latest ethical embarrassment for Greenberg Traurig, the former chairman of the tax practice at the 1,600-lawyer firm has resigned from the bar for taking over $1.2 million in kickbacks on tax shelters he recommended to wealthy clients. Between 1999 and 2002, Jay I. Gordon steered a number of clients to tax shelter sponsors who in turn directly paid Gordon "referral fees." Gordon admitted in his affidavit of resignation that he had informed neither his client nor his firm of the referral fees.
For the order approving Gordon's resignation from the New York state bar, see here.
Update: The New York Times has more here.