Another taxpayer is suing the distributor of tax credits that the Treasury Department says don’t exist and Senate Finance Committee members say are the subject of a criminal investigation.
Stephen Lovecchio bought $1.2 million worth of so-called sovereign tribal tax credits and now owes hundreds of thousands of dollars in taxes, penalties, and interest, according to his complaint filed in the Civil District Court for the Parish of Orleans, State of Louisiana.
Lovecchio is claiming a breach of fiduciary duty, negligent misrepresentation, violations of securities law, and unjust enrichment against Nepsis Inc. and Pelican Family Office in the Civil District ...