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Trial begins for car dealer's Virgin Island tax shelter

January 13, 2009

The tax evasion trial of a St. Louis auto dealer began yesterday in St. Croix, U.S.V.I. James Auffenberger is accused of illegally shifting U.S. income to the Virgin Islands through phony management fees to enable him to take advantage of a heavily-marketed 90% U.S.V.I. tax credit.

The trial has implications for many high-income taxpayers who attempted to use the Virgin Islands economic development break.

Links to Prior Auffenberg Tax Update Posts:

'NOT GUILTY' PLEA IN VIRGIN ISLANDS TAX FRAUD CASE

VIRGIN ISLAND COURT TRIMS LIST OF CHARGES ON TAX SHELTER

Tags: tax crime.