New York's Attorney General accused higher-ups at H&R Block of being aware that the tax prep giant's Express IRA accounts would be money losers for many of the same clients the chain was targeting to buy the retirement plans.

Attorney General Eliot Spitzer said that he has evidence that Block's executives knew of the fiscal unsoundness that lower-income clients faced when buying into the plans, and that those executives still penalized employees who failed to push the retirement accounts.

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