Tax Shelters

Representing the injured, the wronged and their families

The law firms of Cory Watson Crowder & DeGaris, P.C., Shore Deary, L.L.P., and Whatley Drake L.L.C., represent clients throughout the country who participated in "Son of BOSS" Foreign Currency Option Tax Shelters. In addition to filing suit on their behalf, a class action suit has been filed alleging that the designers and promoters of Currency Options Tax Shelters along with certain investment banks that performed the transactions, defrauded investors.

In the years 1999 and 2000, many investors were lured into foreign currency investments as a tax shelter for large one time capital or ordinary gains. The scheme was developed by Paul Daugerdas, a partner with the Dallas, Texas law firm of Jenkens & Gilchrist and involved foreign currency option trading. These alleged tax shelters were often marketed by major accounting firms as either “COBRA” (Currency Options Bring Reward Alternatives) or “PICO” (Personal Income Company). The accounting firms (who marketed the transaction) along with the law firms (who issued questionable opinion letters) and investment banks (who executed the options) arranged the transactions so that the total fee to them was between five and one-half percent (5.5%) and nine and one-half percent (9.5%) of the tax savings that they represented would be saved.

Many of the investors who paid millions in fees and transaction costs are now under the scrutiny of the IRS. Not only have they lost the money they paid to the defendants, but they also are faced with IRS audits and potentially will owe back taxes, interest, and penalties.

1. Auto Accident
2. Aviation Accident
3. Brain Injury
4. Class Actions
5. Defective Building Design
6. Defective Highway Design
7. Defective Medical Device
8. Defective Product
9. Drug Injuries
10. Environmental
11. Fire & Burn Injury
12. Motorcycle Accident
13. Nursing Home Abuse
14. Ortho Evra®
15. Premises Liability / Slip & Fall
16. Truck Accident
17. Workers Compensation
18. Wrongful Death

Attorneys, please complete the following form to be contacted by Cory, Watson, Crowder and DeGaris Attorneys at Law.

Cory Watson Crowder & DeGaris, P.C.
2131 Magnolia Avenue
Birmingham, AL 35205
Phone: 800-852-6299
Local Phone: (205) 328-2200
Fax: (205) 324-7896