Captive managers and promoters including Gallagher and Artex have come under fire for allegedly conspiring to sell and manage illegal tax shelter captive insurance strategies. Matthew Queen, general counsel & chief compliance officer at Venture Captive Management, provides some insight into the lawsuit.
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Latest tax news
Arthur J Gallagher has hit back at the Arizona-based lawsuit accusing it and its subsidiary Artex Risk Solutions of selling and managing illegal tax-advantaged captives, the firm said in a statement.