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TaxMasters Hit With $195M Judgement
http://www.foxbusiness.com/industries/2012/04/04/taxmasters-hit-with-15m-judgement/?cmpid=cmty_twitt ^ | 4-4-2012 | Dunstan Prial

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 firm’s 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 ...


TOPICS: Business/Economy; Crime/Corruption; News/Current Events; US: Texas
KEYWORDS: judgement; taxmasters
I guess we won't be seeing any more of their commercials!
1 posted on 04/05/2012 8:28:07 AM PDT by sheikdetailfeather
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To: sheikdetailfeather

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.


2 posted on 04/05/2012 8:30:09 AM PDT by George from New England
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To: George from New England

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.


3 posted on 04/05/2012 8:33:59 AM PDT by pgyanke (Republicans get in trouble when not living up to their principles. Democrats... when they do.)
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To: sheikdetailfeather
I guess we won't be seeing any more of their commercials!

Already the replacement companies are lining up to offer their services. I saw new commercials a few days ago.

4 posted on 04/05/2012 8:34:39 AM PDT by BAW (I heart the Fifth Circuit Court of Appeals.)
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To: sheikdetailfeather

5 posted on 04/05/2012 8:37:29 AM PDT by martin_fierro (< |:)~)
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To: martin_fierro

LMAO!


6 posted on 04/05/2012 8:44:30 AM PDT by dragonblustar (Allah Ain't So Akbar!)
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To: sheikdetailfeather

Sounds like the perfect candidate to take over Little Timmy Geitner’s job in the Obammy administration.


7 posted on 04/05/2012 8:44:38 AM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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To: sheikdetailfeather

The U.S. Tax Code -- the most complicated on earth -- provides fertile ground for shysters.

8 posted on 04/05/2012 8:46:00 AM PDT by martin_fierro (< |:)~)
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To: sheikdetailfeather

Whenever I saw his commercials, I always thought he looked like some kind of pervert.


9 posted on 04/05/2012 8:47:53 AM PDT by ZX12R (FUBO GTFO 2012 ! We should take off and Newt washington from orbit.)
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To: sheikdetailfeather

Never trust a spokesman who won’t face the camera straight on.


10 posted on 04/05/2012 8:56:12 AM PDT by SandyInSeattle (Smith & Wesson: The original point and click interface)
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To: sheikdetailfeather

Penalties only?

No jail time?

...


11 posted on 04/05/2012 8:58:34 AM PDT by fishtank (The denial of original sin is the root of liberalism.)
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To: sheikdetailfeather

“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.


12 posted on 04/05/2012 9:00:45 AM PDT by relictele (We are officially OUT of other people's money!)
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To: sheikdetailfeather
Patrick Cox, the firm’s heavyset, bearded founder and chief executive officer.......

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

13 posted on 04/05/2012 9:11:24 AM PDT by dennisw (A nation of sheep breeds a government of Democrat wolves!)
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To: sheikdetailfeather
TaxMasters Hit With $195M Judgement
I guess we won't be seeing any more of their commercials!

Yikes!

Shades of Countrywide...

14 posted on 04/05/2012 9:27:20 AM PDT by Publius6961 (It’s easy to make phony promises you can’t keep. - Obama, Feb23, 2012)
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To: martin_fierro
The U.S. Tax Code -- the most complicated on earth -- provides fertile ground for [ all social predators: politicians, criminals (but I repeat myself), parasites,] shysters.

Sorry.
Couldn't resist fixing that statement.

15 posted on 04/05/2012 9:36:42 AM PDT by Publius6961 (It’s easy to make phony promises you can’t keep. - Obama, Feb23, 2012)
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To: ZX12R

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.


16 posted on 04/05/2012 9:43:51 AM PDT by sheikdetailfeather ("We Need To Teach The Establishment a Lesson" - Newt Gingrich)
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To: SandyInSeattle
Never trust a spokesman who won’t face the camera straight on.

Or an often-seen business commentator.
Or a politician.
Or...

17 posted on 04/05/2012 10:03:24 AM PDT by Publius6961 (It’s easy to make phony promises you can’t keep. - Obama, Feb23, 2012)
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