Billionaire Investor Sues IRS For $186 Million

June 19, 2013

Billionaire investor Peter R. Kellogg and IAT Reinsurance Co. Ltd., the Bermuda-domiciled insurance company his family owns, are suing the IRS for refunds of $186 million in taxes and interest, according to Forbes.

Forbes reports that, “In court documents, Kellogg and IAT claim IRS officials were ‘unduly prejudiced’ against them by a ‘politically charged atmosphere’ created by journalists and that the IRS arbitrarily timed the revocation to maximize the taxes owed and ‘punish’ them.”

The full article can be read here on

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