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H&R Block Sued by Spitzer

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At a glance:

New York Attorney General Eliot Spitzer filed a civil lawsuit against tax preparer H&R Block, seeking $250 million in damages on behalf of clients who were allegedly defrauded by the Express IRA program.
 
The charge is that H&R Block misrepresented the program as having good returns and did not disclose information about fees and tax consequences of the program.
 
Small investors, as most of these clients were, had a net loss instead of gain.

New York's Spitzer Charges H&R Block with Fraud

Washington Post - 3/15/2006 2:29 PM

New York Attorney General Eliot Spitzer filed a civil lawsuit against tax preparer H&R Block, seeking $250 million in damages on behalf of clients who were allegedly defrauded by the Express IRA program.
 
The charge is that H&R Block misrepresented the program as having good returns and did not disclose information about fees and tax consequences of the program.
 
Small investors, as most of these clients were, had a net loss
 
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