Prosecutors have indicted John B. Ohle III, a former member of a bank's tax shelter promotion group, on charges of conspiring with lawyers at the law firm of Jenkens & Gilchrist and others to defraud the U.S. Treasury of an estimated $100 million in the sale of a tax shelter known as "HOMER."
According to the indictment, between 1999 and 2002, Ohle was a supervisor in the Chicago office of Bank One's Innovative Strategies Group. The bank has since been acquired by J.P. Morgan Chase. Deutsche Bank has also been linked to the scheme, according to The New York Times, for arranging the financial transactions sold by Ohle.
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