07/06/2009 05:12 am ET Updated May 25, 2011

Tax Haven Scam: Quellos Group Charged With $1.3B Fraud

Reporting from Seattle -- Two principals of defunct Seattle investment management firm Quellos Group and a Los Angeles lawyer were indicted in a tax shelter scheme that allegedly created more than $1.3 billion in fraudulent losses for prominent clients, including media mogul and billionaire investor Haim Saban.

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