Business Services Industry
IRS Scrutinizes Missouri Underwriter in Orange County, Fla., Bond Deal.
Knight Ridder/Tribune Business News, June, 2003
By Mark Schlueb, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Jun. 11--IRS agents who are sniffing around an Orange County agency's 3-year-old bond sale are interested in how a Missouri investment-banking firm earned at least $7.3 million from the deal, records show.
Members of the Orange County Health Facilities Authority and their lawyers, meanwhile, sought to reassure the County Commission on Tuesday that there was no wrongdoing. The Internal Revenue Service is to blame for poisoning the deal, they said.
The agency's heartburn started in 2000, shortly after it issued $330 million in tax-free bonds to help nonprofit health-care corporations expand hospitals across Florida. A handful of hospitals had expressed...
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