Skip to comments.TaxMasters Hit With $195M Judgement
Posted on 04/05/2012 8:28:04 AM PDT by sheikdetailfeather
TaxMasters Inc., a Texas-based tax advisory firm perhaps best known for its ubiquitous advertisements on cable television, has been ordered to pay more than $195 million in penalties for defrauding its clients.
Patrick Cox, the firms heavyset, bearded founder and chief executive officer, has to pay $46 million of the judgment handed down last week by a Texas jury. Cox appeared in many of TaxMasters commercials.
TaxMasters was found to have committed more than 110,000 violations of Texas Deceptive Trade Practices Act, according to a statement released by Texas Attorney General Greg Abbott.
The verdict marks a significant victory for the Texans and TaxMasters customers nationwide who sought help from TaxMasters with their income tax debts and were taken advantage of in the midst of a national economic downturn, Abbott said in the statement.
(Excerpt) Read more at foxbusiness.com ...
Betcha a good deal of the lawyer spots on TV are deceptive and somewhat fraudulent, by lawyers get a pass, heck they make the laws in their favor.
More to the point... betcha 99% of the benefit of this lawsuit goes to the lawyers. Each of the “hurt” customers will get a coupon or $10 settlement.
Already the replacement companies are lining up to offer their services. I saw new commercials a few days ago.
Sounds like the perfect candidate to take over Little Timmy Geitner’s job in the Obammy administration.
The U.S. Tax Code -- the most complicated on earth -- provides fertile ground for shysters.
Whenever I saw his commercials, I always thought he looked like some kind of pervert.
Never trust a spokesman who won’t face the camera straight on.
No jail time?
“Do you owe more than $195 million in back penalties to the government for your fraudulent practices....?”
Patrick Cox has discovered a novel, if expensive, means of weight loss. He will be much slimmer after eating oatmeal for a decade.
I see their adverts and they're ridiculous. The guy looks at you from a sideways profile and his mouth barely moves (like in cheap cartoons) as he speed talks through his advertisement
Shades of Countrywide...
Couldn't resist fixing that statement.
I was always irritated by their commercials as he looked like an intimidating IRS guy sent by our Dictator to get the Obamacare fine. I always hit the mute button just seeing his intimidating towering projection. It was meant to scare the heck out of anyone who owed the IRS and run to Taxmasters before they got locked up forever.
Or an often-seen business commentator.
Or a politician.
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