TaxMasters Ordered to Pay $195 Million by Texas Jury
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TaxMasters Inc. and its Chief Executive Officer Patrick Cox were ordered to pay $195 million by a Texas jury who found the bankrupt tax-resolution business liable for 110,000 violations of state law.
The verdict includes $113 million in restitution to the firm’s customers, $81 million in civil penalties and $1 million in attorneys fees, Texas Attorney General Greg Abbott said in a statement today. The jury in Travis County found the Houston-based company and Cox liable for violating the state’s Deceptive Trade Practices Act after an eight-day trial, according to the statement.