A Kentucky circuit court judge has ruled that Grant Thornton is liable for more than $100 million in damages to be paid to a business owner and his family after he was sold an offshore tax shelter that the Internal Revenue Service considered abusive.
After a month-long trial, Kenton Circuit Court judge Patricia Summe ordered Grant Thornton to pay Bill Yung, the president of the Crestview Hills, Ky.-based hotel company Columbia Sussex, his wife Martha and the 1994 William J. Yung Family Trust a total of more than $100 million, including $20.22 million in compensatory damages, and $80 million in punitive damages. Yung and his family were represented in the case by the law firm Graydon Head, based in the Cincinnati and Northern Kentucky area.
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