Wyden Presses Promoter of Nonexistent Tribal Credits for Details

The Senate Finance Committee’s top Democrat is pressing the main distributor of so-called sovereign tribal tax credits for more information on sale of the products the government has deemed fake.

Nepsis Inc., a Minnesota wealth advisory firm, sold tens of millions of dollars in the tax credits the IRS and Treasury Department have said don’t exist. The credits are the subject of a criminal investigation, according to Senate Finance Democrats.

Sen. Ron Wyden (D-Ore.) is asking Nepsis CEO Mark Pearson in a letter dated May 6 to explain the company’s role in the scheme, the amount ...