U.S. Attorney Files Lawsuit Against Deutsche Bank Federal Income Tax Fraud Scheme
Corporate tax schemes – both elaborate schemes and simple fraud – have shown great innovation in ripping off the government. IRS Whistleblowers will continue to play a central role in detecting and punishing these schemes. — Shayne Stevenson, Head of Whistleblower Practice
"Deutsche Bank acquired a corporation in the fall of 1999 that held stock with a very low cost-basis, such that the sale of this stock would trigger more than $100 million in taxable gain as a result of the appreciation in value of the stock. In order to avoid paying taxes on the stock’s built-in gain, Deutsche Bank entered into an arrangement with a firm that created three shell companies." Full article »
