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November 4, 2010 11:43 AM

Ex-Seyfarth Shaw Partner Charged in $370 Million Tax Scheme

Posted by Brian Baxter

The Justice Department has unveiled charges against John Rogers, a former tax partner at Seyfarth Shaw in Chicago, for allegedly promoting tax shelters using Brazilian debt to create tax deductions for U.S. clients.

The shelters helped Rogers's clients claim hundreds of millions in dollars in fake tax deductions, according to The National Law Journal, a sibling publication.

In a 74-page civil suit filed in U.S. district court in Chicago, prosecutors accused Rogers and two companies with taking part in a scheme that generated more than $370 million in fictitious tax deductions, which allowed clients to offset unrelated income earned in the U.S., The NLJ reports.

Rogers currently is a partner at his own Chicago firm, Rogers & Associates. He did not respond to a request for comment left by The NLJ. Rogers joined Seyfarth as a nonequity partner in 2003 when his previous firm, the defunct Altheimer & Gray, folded.

The NLJ reports Rogers became an equity partner at Seyfarth in 2004 and stayed with the firm until being forced to resign in 2008. Rogers told Seyfarth at the time that he was being investigated by the IRS and would stop promoting the Brazilian shelters to clients.

But Rogers surreptitiously continued using the shelters. Seyfarth later discovered the deception and forced him out of the firm, reports The NLJ, citing from court records. A Seyfarth spokesman in New York declined to comment when reached by the paper.

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