charitable contributions?

I have a client who thinks he is going to:

1) Buy “Native American Tax Credits” for $.60 on the dollar that he can apply on his tax return.

2) Invest in some scheme where he can purchase shares in some private investment for “below market”. The idea is that the shares are actually worth way more and he’ll get a charitable deduction that actually yields him a return on investment.

The materials provide no direct authority for either. Just a bunch of bogus citations that they are hoping nobody looks into.

The promoter for #2 is a BYU guy. Unfortunately this is not the first time I’ve come across a BYU alum peddling something like this.