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Thursday, December 30, 2010

2 Former Jenkens & Gilchrist Partners to be Tried in Tax-Shelter Case

Am Lawyer ABA Journal, 2 Former Jenkens & Gilchrist Partners on Track for Trial in Tax-Shelter Case:

Rejecting an argument that the conduct of two former partners of the now-shuttered Jenkens & Gilchrist and three other non-law firm defendants lacked requisite willfulness, a federal judge has denied a motion to dismiss and put the case on track for a February trial.

Charged with conspiring to defraud the IRS, ex-partners Paul Daugerdas [right] and Donna Guerin are accused of helping clients generate some $4 billion in losses via bogus tax shelters that were never intended to be profit-making ventures. ... Meanwhile, the lawyers earned hefty fees for the firm by writing opinion letters that indicated the tax shelters were legitimate.

http://taxprof.typepad.com/taxprof_blog/2010/12/2-former-jenkens-gilchrist-partners.html

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