Two heirs bought Midland, Michigan dams as a tax shelter. Tragedy followed. | Bridge Magazine"In 2006, the clock was bearing down on Lee Mueller’s family.
Heirs of the founder of the Boy Scouts of America, Mueller and his relatives needed to reinvest money from the sale of an Illinois property in less than a year — or pay $600,000 in taxes to the IRS.
Eventually, a solution came to Mueller, an architect who lives in Las Vegas, and his cousin, Michel d’Avenas, a California musician who is the son of a French count and is now known as the Pebble Beach Bagpiper.
They would avoid taxes by purchasing four small hydroelectric dams in mid-Michigan near Midland, according to hundreds of pages of federal court records reviewed by Bridge.
The deal was troubled from the start..."
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