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Billionaire Chris Rokos Sues Two Firms for $72 Million Over Tax Advice

  • Rokos sues Deloitte, McDermott, Will & Emery over 2009 deal
  • Hedge fund founder hoped to save 39.4 million pounds in taxes
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Billionaire Chris Rokos, who runs the hedge fund that bears his name, sued Deloitte and a U.S. law firm after 39.4 million pounds ($52 million) in tax relief was thrown out by U.K. authorities.

Rokos sued his advisers over a decade-old investment in a commercial development that was supposed to yield a significant tax break. But in 2016, authorities rejected the claim and demanded payment of the full amount Rokos “had claimed as capital allowances,” his lawyers said in a London court filing earlier this month.