A Shelter Called Homer

The Louisiana Supreme Court has entered an order of interim suspension of an attorney recently convicted in a tax fraud case. This report from Chicago Breaking Business provides details concerning the criminal case:

[The attorney] started selling the tax shelters while he was employed at Chicago-based Bank One between 1999 and 2002, before it was acquired by JPMorgan Chase & Co. The shelter was called Homer, for the character in “The Simpsons.”

He was part of a scheme to fraudulently obtain referral fees. [A] Louisiana attorney...also was convicted on the conspiracy charge.

The shelters were aimed at wealthy clients of the bank and Jenkens & Gilchrist, a national law firm that went out of business in 2007 after settling civil and criminal investigations related to the bogus tax shelters. [The attorney] continued selling the shelters after leaving the bank and forming his own company, Chicago-based Dumaine Group LLC.

Additional details from Law.com. (Mike Frisch)