Billionaire Chris Rokos Sues Two Firms for $72 Million Over Tax Advice
- Rokos sues Deloitte, McDermott, Will & Emery over 2009 deal
- Hedge fund founder hoped to save 39.4 million pounds in taxes
This article is for subscribers only.
Billionaire Chris Rokos, who runs the hedge fund that bears his name, sued Deloitte and a U.S. law firm after 39.4 million pounds ($52 million) in tax relief was thrown out by U.K. authorities.
Rokos sued his advisers over a decade-old investment in a commercial development that was supposed to yield a significant tax break. But in 2016, authorities rejected the claim and demanded payment of the full amount Rokos “had claimed as capital allowances,” his lawyers said in a London court filing earlier this month.