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QB Orton sues firm over investment loss

Dec. 30, 2011 at 8:28 PM   |   Comments

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CHICAGO, Dec. 30 (UPI) -- Kansas City Chiefs quarterback Kyle Orton has sued a Chicago law firm, saying he lost millions on an oil and gas energy investment.

Orton alleges the Chicago law firm of Chuhak & Tecson advised him he would receive tax credits and other favorable tax treatment for the investment he made while playing for the Chicago Bears in 2005, but those benefits never materialized, the Chicago Tribune reported Friday.

The firm allegedly drafted the documents to create tax shelters to convert and sell landfill gas and energy. The lawsuit says the firm failed to tell investors the tax shelters didn't meet the legal requirements for a tax credit.

Investors first learned in 2010 their investments were "financially damaged" because of the firm's advice, the Tribune said.

Topics: Kyle Orton
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