Automakers

Tax-fraud charges could cost Auffenberg his franchises

Jamie Auffenberg is accused of taking part in a tax-fraud conspiracy valued at more than $74 million.
HS
By:
Harry Stoffer
April 02, 2007 05:00 AM
By the book

Here are the steps a businessperson could take to benefit legally from a Virgin Islands economic development program.

  • Be a bona fide resident of the Virgin Islands
  • Earn income that is "effectively connected" with a business in the Virgin Islands
  • Get a credit of 90% on federal taxes
Source: U.S. Department of Justice

WASHINGTON -- The federal tax-fraud charges brought last week against prominent auto dealer Jamie Auffenberg threaten not only his reputation and personal freedom but also his businesses.

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