The way the teams I've been in have done it two times now is we tank Reichsman and have the damage dealers (blasters scrappers) all doing as much dmg as possible. It's useful if you have [Surveilance] power to lower his defense and any other debuffs (rad, sonic, dark) you can get.
You're going to want a tank that has taunt though, as I found out the hard way if your blasters are dealing too much dmg, when the AV is released Reichsman will focus his attention on the blasters -- which isn't good for survival! :P
When he does his portal attack have somebody zap him with the portal grounding gun. So as not to waste ammo on this gun (it's limited to 10 shots I believe). And then keep the barage of dmg going.
When he wakes one of the trapped AV's you want to keep the tanker on Reichsman, and have all of the damage dealers go and take out the AV.
Wash, rinse, repeat.
With a team of 1 tank, 3 blasters, 2 scrappers, and 2 healers/trollers we managed to take him down fairly fast both times.