Feds Ready To Haul In Joe Cassano Over Tax Fraud Case

josephcassano tbi

Joe Cassano is probably going nuts.

He’s been charged with nothing, but there’s a stream of reports that the former AIG Financial Products boss is about to be indicted or charged with something or other.

This time, Cassano could face questioning over a civil tax lawsuit.

Bloomberg: A business once run by ex-American International Group Inc. executive Joseph Cassano, who is under criminal investigation for possible securities fraud, structured “abusive tax shelters” involving “enormous sums” in a separate matter, U.S. lawyers said in a civil lawsuit filing.

The allegation arose in a lawsuit in which AIG, the insurer bailed out by the U.S., sued the government to recover $306 million in taxes that the New York-based company claimed were “erroneously and illegally” assessed for transactions in 1997.

The Feds disagree, and part of their plan is to use Cassano. “The government will need to depose Joseph Cassano, who headed AIG Financial Products (the entity that structured all the transactions),” wrote Assistant U.S. Attorney Pierre Armand in a court filing this week.

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