The Journal goes on to say that, “J. Virgil Waggoner, a wealthy Texan who lost $10 million in the 1990s investing with a now-defunct offshore bank that a Senate investigative report identified as fraudulent, described Mr. Caruso in the suit as being in league with the people who defrauded him. Mr. Waggoner accused Mr. Caruso of helping the people who defrauded him escape liability, even as he charged Mr. Waggoner for legal advice that went against his interests.”
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