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Former USVI revenue chief and local businessman charged with tax evasion
Published on February 15, 2014 Email To Friend    Print Version

ST THOMAS, USVI -- Attorney General Vincent Frazer said on Friday that Louis Willis, former director of the US Virgin Islands Bureau of Internal Revenue, and Gerald Castor, president of Balbo Construction, Inc., had been arrested on charges of conspiracy to evade gross receipts tax and other underlying offences pursuant to warrants issued by Superior Court Judge Douglas Brady. Both defendants were due to make initial court appearances before a Superior Court Magistrate on Friday.

According to an affidavit supporting the arrest warrant, signed by IRB Special Agent Janine Claxton, Willis and Castro conspired to evade or defeat the assessment of the gross receipt taxes of Balbo Construction by understating 27 monthly gross receipt tax returns to the total sum of $2.9 million resulting in a gross receipt tax liability of over $118,000 owed to the US Virgin Islands.

Frazer explained that the case stems from a joint investigation by the VI Bureau of Internal Revenue and the Internal Revenue Service. The result of the joint investigation was referred to the VI Department of Justice by the Office of the United States Attorney for local prosecution as the delinquent Gross Receipts Tax is a local offence.

If convicted, Willis and Castor face a maximum prison sentence of five years and fines of up to $10,000.

Frazer reminded the public that an arrest filing of criminal charges is not an indication of guilt. The defendants are presumed innocent until proven guilty.
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