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706 KB
Extraction Summary
7
People
5
Organizations
1
Locations
4
Events
4
Relationships
2
Quotes
Document Information
Type:
Legal document
File Size:
706 KB
Summary
This legal document describes how an individual named Parse, while assisting Calphalon stockholders with their shares from the company's sale to Newell, introduced them to Paul Daugerdas, a partner at Altheimer & Gray. Daugerdas pitched a confidential tax shelter designed to eliminate their taxable gains, instructing them to misrepresent their investment intent if questioned. Parse witnessed this event, which is described as being inconsistent with good faith.
People (7)
| Name | Role | Context |
|---|---|---|
| Parse |
A central figure who helped Calphalon stockholders, introduced them to Paul Daugerdas for a tax shelter, and witnesse...
|
|
| Peter Barnhart | Calphalon’s Executive Vice-President |
Was introduced to Paul Daugerdas by Parse.
|
| Sara Jane Kasperzak | Member of the Kasperzak family |
Was introduced to Parse in 1998.
|
| Dean Kasperzak | Member of the Kasperzak family |
Was introduced to Parse in 1998 and later testified at trial about the tax shelter meeting with Daugerdas.
|
| Paul Daugerdas | Altheimer & Gray partner |
Pitched a confidential J&G tax shelter to Calphalon shareholders and urged them to make false statements about their ...
|
| Erwin Mayer | Trial witness |
Testified about the nature of the Treasury note transactions involved in the tax shelter.
|
| Newell |
Mentioned as the entity to which the Calphalon company was sold.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Calphalon | company |
A company sold to Newell, whose stockholders were pitched a tax shelter.
|
| Newell | company |
The company that acquired Calphalon.
|
| Altheimer & Gray | law firm |
The law firm where Paul Daugerdas was a partner.
|
| J&G | unknown |
Mentioned in the context of a "J&G tax shelter" pitched by Paul Daugerdas.
|
| Shumaker Loop & Kendrick | law firm |
Attorneys from this firm attended a meeting with Daugerdas and the Calphalon shareholders.
|
Timeline (4 events)
1998
Parse was introduced to Peter Barnhart, Sara Jane Kasperzak, Dean Kasperzak, and other members of the Kasperzak family.
Parse introduced Peter Barnhart to Paul Daugerdas to pitch a tax shelter.
Parse’s office
Paul Daugerdas pitched a confidential tax shelter to Calphalon shareholders, urging them to make false statements about their intent.
Locations (1)
| Location | Context |
|---|---|
|
Location of a meeting where Parse introduced Peter Barnhart to Paul Daugerdas.
|
Relationships (4)
Parse was introduced to Peter Barnhart, Calphalon's Executive Vice-President, in 1998.
Parse was introduced to members of the Kasperzak family in 1998 and was helping them dispose of their Newell shares.
Parse introduced Paul Daugerdas to Peter Barnhart and attended a meeting where Daugerdas pitched a tax shelter.
Daugerdas pitched a tax shelter to the Calphalon shareholders to help them avoid taxes on their gains from the sale of their company.
Key Quotes (2)
"We were told that the profit potential was very low and that going forward, should we choose to go forward, if we were questioned about the matter, that our intent was in fact to make a profit, but in order for this tax shelter to work, there had to be, in effect, a loss to balance off the gains from the stock sale."Source
— Dean Kasperzak
(Testifying at trial about what Paul Daugerdas told the shareholders regarding the tax shelter and what to say if questioned.)
DOJ-OGR-00009530.jpg
Quote #1
"investment"Source
— Erwin Mayer (implied)
(Used in quotes in the footnote to describe the purported nature of the Treasury note transactions, which were virtually certain to produce only a small loss or gain.)
DOJ-OGR-00009530.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (2,259 characters)
Case 1:20-cr-00330-PAE-curDocument 616-3/20 Filed 02/24/22 Page 141 of 117
A-6079
Case 1:09-cr-00581-WHP Document 605 Filed 03/18/13 Page 6 of 41
A-6079
Case 1:09-cr-00581-WHP Document 605 Filed 03/18/13 Page 6 of 41
the Calphalon company to Newell. Parse was introduced to Peter Barnhart, Calphalon’s Executive
Vice-President, Sara Jane Kasperzak, Dean Kasperzak, and other members of the Kasperzak family
in 1998. As a result of the work that Parse was doing in helping the Calphalon stockholders dispose
of their Newell shares, Parse became aware of the large taxable gains that the stockholders would
receive. In a meeting at Parse’s office, Parse introduced Peter Barnhart to Paul Daugerdas (then an
Altheimer & Gray partner) for the purpose of having Daugerdas pitch a J&G tax shelter to the
Calphalon shareholders. Parse subsequently attended a meeting with Daugerdas, the Calphalon
shareholders, and several attorneys from the law firm of Shumaker Loop & Kendrick. In that
meeting and in Parse’s presence, as Dean Kasperzak testified at trial, Daugerdas opened with the red-
flag statement that the information that he was about to provide was completely confidential and that
the shareholders could not even share it with the shareholders’ own investment advisors or
accountants. (Tr. 6243). Daugerdas then described the tax shelter which he said would result in the
shareholders’ paying virtually no taxes on the gains. Kasperzak further testified, “We were told that
the profit potential was very low and that going forward, should we choose to go forward, if we were
questioned about the matter, that our intent was in fact to make a profit, but in order for this tax
shelter to work, there had to be, in effect, a loss to balance off the gains from the stock sale.”² (Tr.
6244). The urging by Daugerdas for the shareholders to make false statements about their intent is
wholly inconsistent with good faith – all of which Parse witnessed.
Vice-President, Sara Jane Kasperzak, Dean Kasperzak, and other members of the Kasperzak family
in 1998. As a result of the work that Parse was doing in helping the Calphalon stockholders dispose
of their Newell shares, Parse became aware of the large taxable gains that the stockholders would
receive. In a meeting at Parse’s office, Parse introduced Peter Barnhart to Paul Daugerdas (then an
Altheimer & Gray partner) for the purpose of having Daugerdas pitch a J&G tax shelter to the
Calphalon shareholders. Parse subsequently attended a meeting with Daugerdas, the Calphalon
shareholders, and several attorneys from the law firm of Shumaker Loop & Kendrick. In that
meeting and in Parse’s presence, as Dean Kasperzak testified at trial, Daugerdas opened with the red-
flag statement that the information that he was about to provide was completely confidential and that
the shareholders could not even share it with the shareholders’ own investment advisors or
accountants. (Tr. 6243). Daugerdas then described the tax shelter which he said would result in the
shareholders’ paying virtually no taxes on the gains. Kasperzak further testified, “We were told that
the profit potential was very low and that going forward, should we choose to go forward, if we were
questioned about the matter, that our intent was in fact to make a profit, but in order for this tax
shelter to work, there had to be, in effect, a loss to balance off the gains from the stock sale.”² (Tr.
6244). The urging by Daugerdas for the shareholders to make false statements about their intent is
wholly inconsistent with good faith – all of which Parse witnessed.
² The testimony of Erwin Mayer and other trial witnesses made clear that the expected short-
term duration of the Treasury note transactions, combined with the lack of volatility of the specific
Treasury notes chosen for the transactions, meant that the short sale was virtually certain to produce
only a small loss or gain on this purported “investment.”
term duration of the Treasury note transactions, combined with the lack of volatility of the specific
Treasury notes chosen for the transactions, meant that the short sale was virtually certain to produce
only a small loss or gain on this purported “investment.”
4
DOJ-OGR-00009530
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